Sir Peter Soulsby at it Again: Property Profiteering at the Public Expense

Leicester’s Labour City Council have just announced that “Plans for a major multi-million pound scheme to build more than 150 homes for vulnerable and older people in the city have been given the go-ahead.”*

The “construction – and later the management – of the accommodation” is being overseen by a local consortium of property profiteers which includes “one of the country’s prominent housing associations” (Places for People) and two ruling-class property developers, Morgan Sindall Group and Ashley House.

To get a flavour of elite character of this grubby money-making consortium, one of the key individuals managing Places for People’s profiteering at the public’s expense is Chris Phillips, who is also the chairman of Apex Housing Group, and chairman of Triple Point Social Housing REIT plc; while the current chairman of the Morgan Sindall Group is Michael Findlay who recently retired from Bank of America Merrill Lynch where he was Co-Head of Investment Banking for the UK and Ireland.

Our Blairite Council’s involvement in this project involves them “transferring” land to these profiteers, and giving them a generous gift of £2.45million (derived from Right to Buy receipts) to help cover the costs of £22 million project. “In return,” the only benefit to our city is that the “council will be able to nominate who should live in the homes from the council’s housing register.”

Leicester housing

Note

*“The two ‘extra care’ schemes – one in Braunstone and one in Beaumont Leys – will provide extra support to vulnerable people to help them to live independently in the community. They will provide one and two-bedroom flats for a range of people, including adults with a learning disability or mental health needs, and older people.

“The scheme at Tilling Road, in Beaumont Leys, will consist of 73 units, while the scheme at Hamelin Road, in Braunstone, will provide 82 units.”

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