Westbrook Partners, the US investment company, recently announced that is has sold the New Era Estate in Hackney to Dolphin Living.
Part of the Dolphin Square Foundation, Dolphin Living is an independent housing charity that provides high-quality, affordable rented accommodation to London residents.
The private equity company faced a backlash towards the end of 2014 from residents and protestors who argued that they were only interested in short-term profit rather than a long-term commitment to the estate’s inhabitants and the local area.
Over the last few weeks Westbrook has been working alongside the Greater London Authority, local MP Meg Hillier and the London Borough of Hackney to facilitate a sale of the New Era Estate.
Westbrook Partners believes that Dolphin Living, a respected housing charity, will be perfectly suited to secure the legacy of the estate. The charity has also agreed to fulfil the promises Westbrook made to the New Era tenants not to increase their rents in 2015.
Westbrook will continue to work alongside Dolphin Living and the current property manager to ensure a smooth transition for all involved.
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