Excalibur Estate Stock Transfer

Background to the Excalibur estate Stock Transfer project

The Excalibur Estate in South East London comprises of 186 prefab bungalows built in 1946 with an intended lifespan of 10 years. Lewisham Council has looked in detail into the cost of bringing all of its homes up to the Decent Homes standard, however they consider that, subject to tenants voting in favour, the best option for Excalibur in order to meet these standards is to transfer all the homes to a housing association, who can raise the funds to build new homes for the future.

In February 2007, London and Quadrant Housing Trust (L&Q) were selected to be the partner housing association for the Stock Transfer. This decision was endorsed by the Council in April 2007. Since then L&Q have been working in close consultation with residents at Excalibur to develop the Offer Document which Lewisham Council which was sent to residents in July 2008.

If the majority of tenants who vote in the ballot are in favour of the transfer proposal, and the Secretary of State approves the transfer, L&Q will become the new landlord.

The Proposal

The proposals involve redeveloping the whole estate and rebuilding a mixture of affordable homes with additional flats for sale, shared ownership and equity ownership to replace the current prefab bungalows. Current proposals are to increase the number of homes from 186 to around 460 homes. This density will be in keeping with that of the surrounding areas.

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