Landlords Own 40% Ex Council Housesx - GMB

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The Smiths: The Birkett Smiths own properties across London through the Guernsey incorporated
companies Chelsea Estates Ltd and Birkett Estates Ltd. They also have a number of properties
registered in their own names: Alexander Birkett Smith, his wife Helena, brother Nicholas and his
wife Alexandra. From our searches, Chelsea Estates Ltd own 30. With a related company, Birkett
Estates and individuals of these companies, the total owned in Wandsworth is at least 66. Alexander
is an ex venture capitalist having worked for Rothschild’s before setting up his residential property
business, with his brother, and running two farms near Scarborough which are in receipt of
European Farm subsidy payments. The brothers are directors of Daleside Estates Ltd, Smith Street
Ltd, Overdale Farms Ltd and Smith Street Estates Ltd. Nicholas is also a director of the Portman
Hunt, a Dorset based Hunt, and Daniel Lambert Ltd along with his wife Alexandra.
Palmyra Properties: The Palmyra Properties, CPIF group of companies own 46 leasehold properties
where Wandsworth Borough own the freehold. Palmyra Properties is Jersey based, CPIF Property,
incorporated in Guernsey, Affordable Property Investments incorporated in the British Virgin Islands
and Skyprops is incorporated in Mauritius.
Of the other companies searched, Drumree Asset Holdings (1 property) and Entreprises Generalles
(Investissements) (1 property) are both incorporated in the British Virgin Islands.
Cherwell Investments Ltd (cherwellinvestments.com): Cherwell Investments own 11 leasehold
properties where Wandsworth Borough own the freehold. Directors are Alexander Thompson and
Thomas Holroyd, both directors of several other property investment companies. The website states
that they own ‘a large number of properties in a small area of London (SW4, SW11, SW12 and
SW18) We have focused on this for the past 20 years……We are constantly adding to and upgrading
our portfolio in the Battersea, Balham, Clapham and Wandsworth area.
The Lockes: Marcus and Susan Locke own at least 11 leasehold properties where Wandsworth
Borough own the freehold. Marcus is an LLP member of High Holborn LLP, director of 373 New
Kings Road Freehold Ltd (letting of property) and juststjohn.com ltd.
Paul Kenny, GMB General Secretary, said “This investigation lays bare the harsh reality of the
exploitation of our social housing stock. It shows private businesses making vast profits from the
public purse while the people these homes were built for sit on waiting lists that never move. To add
insult to injury many are using offshore tax havens to avoid paying tax on these profits.
These homes were built and designed to be rented by ordinary London families. The investigation
exposes Mrs Thatcher’s flagship policy of "right to buy" for individuals as nothing more than a
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