Calculations from local newspaper Brixton Buzz suggest an average cost of £700,000 per property.
Some properties also serve as replacements, contributing to an even higher average cost.
Homes for Lambeth faced a critical blow in November last year after the Kerslake Review.
The independent Peer recommended bringing the failed company back in-house at the Town Hall, emphasizing a “complete reset” due to its failure in engaging with residents.
Lambeth council holds a cash balance of £50.3 million as of 30 September, 2023.
Its gross debt remains unchanged at £882.7 million from 30 June, 2023, with an average interest rate of 3.75%.
The Corporate Committee meets on 30 November to explore these financial intricacies.
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HeadlineLondon Council loaned out £79.5m to failed housing scheme
Short HeadlineCouncil loaned £79.5m to failed housing scheme
StandfirstLambeth Council company has also requested a further £30m to complete some existing work that has started.
Lambeth Council is facing scrutiny after lending almost £80m to failed council-owned company Homes for Lambeth.
The company has disclosed total expenditure of £122.5 million, with an additional request for £30 million to complete ongoing projects.
Calculations from local newspaper Brixton Buzz suggest an average cost of £700,000 per property.
Some properties also serve as replacements, contributing to an even higher average cost.
Homes for Lambeth faced a critical blow in November last year after the Kerslake Review.
The independent Peer recommended bringing the failed company back in-house at the Town Hall, emphasizing a “complete reset” due to its failure in engaging with residents.
Lambeth council holds a cash balance of £50.3 million as of 30 September, 2023.
Its gross debt remains unchanged at £882.7 million from 30 June, 2023, with an average interest rate of 3.75%.
The Corporate Committee meets on 30 November to explore these financial intricacies.
A 2024 Freedom of Information request showed Bromley Council had £4.5 million invested in arms companies that year with £1.5 million reportedly linked to Israel.
Undercover officers raided three linked shops in Barking town centre, revealing how illicit tobacco is being hidden in walls, ceilings and nearby locations to evade detection.
More than 330,000 people across the UK sought support from the Stop It Now helpline in 2025 over concerns about their own or someone else’s online sexual behaviour towards children, according to new charity data. The anonymous service says contacts by phone, email and webchat rose significantly over the year.
