Looe Residents Celebrate £1 Sale of Flats to Tackle Housing Crisis

Residents in Looe are celebrating the sale of 11 flats worth £640,000 to a community land trust for just £1.

Cornwall Council approved this innovative approach to tackle the county’s housing crisis while avoiding costly maintenance expenses. The sale ensures these properties remain affordable for local residents, offeriang a lifeline to those struggling to secure housing in Looe. Discover how this creative solution could be a model for addressing housing challenges in other areas.

Lifeline for Looe Residents

Anne Edwards, a long-term resident of the flats, praised the project as “wonderful” and emphasised the significance of providing affordable housing opportunities for young people in the community. Christine Hodgson echoed this sentiment, expressing concern over the number of empty houses in Looe due to second-home ownership.

The Three Seas Trust, the new owner of the flats, plans to invest approximately £1.5 million in refurbishments, funded through government grants and a community share scheme. Once completed, these Grade II-listed homes will offer 11 one to two-bedroom properties with rents at around £400 per month.

A Solution for Communities in Need

Across Cornwall, 26,000 people are on the housing waiting list, highlighting the pressing need for affordable housing solutions.

Olly Monk, the county councillor responsible for housing, described the Looe project as a creative solution for an area in “desperate need” of new affordable homes. Similar initiatives, like the one in Cawsand three years ago, have provided hope for local residents facing housing challenges. With the support of innovative approaches and community involvement, areas like Looe can work towards ensuring that residents have the opportunity to live and thrive in their hometowns.