The seal has been set on a housing stock transfer deal that will see residents on the Ashmole estate in North Lambeth benefit from a £40 plus million regeneration programme.

Homes on the estate will, from yesterday, Monday March 22, be managed by Metropolitan Housing Trust.

Lambeth Council presented residents with MHT London's offer to spend £27.6 million on the estate in the first six years after transfer and £13.7 million in the following 24 years.

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Properties on the estate will now benefit from energy efficient heating systems, new or repaired roofs and refurbished kitchens and bathrooms. Work is scheduled to begin later this year.

MHT London also plan to invest £750,000 over 10 years on community initiatives, including support for older people, and employment, education and training.

Councillor Lib Peck, Cabinet Member for Housing and Regeneration at Lambeth Council, said: "We're delighted that tenants decided to take up MHT London's proposals and will benefit from this investment programme. We'll be working closely with Metropolitan Housing Trust and residents as this project develops."

(CD/GK)