In a bid to maintain affordable housing in the picturesque seaside town of Looe, Cornwall Council has made 11 seafront properties available for the astonishingly low price of £1.
Community Land Trust Takes Over
The properties, known as the Coastguard Flats, have been sold to a community land trust after the council determined that the costs to maintain the building were too high. The flats offer stunning views of the East Looe River, which feeds into the English Channel.
Preserving Affordable Housing
The decision to sell the flats for a nominal fee ensures that Looe will continue to have affordable housing options. Local councillors emphasize that this deal allows affordable housing to remain in the heart of the Looe community.
Property Prices Soar in Looe
In recent years, property prices in Looe have skyrocketed, forcing many residents to seek alternative housing options. The average house price in Looe over the last year was just over £340,000, significantly higher than the UK average.
Preserving the Charm of Looe
Looe is a popular holiday destination, attracting thousands of visitors each summer. By keeping affordable housing options available, the town can maintain its unique charm and character.
With this incredible opportunity to own a £640,000 flat for just £1, prospective homeowners have a chance to secure a dream property in a beautiful seaside setting. The release of these flats ensures that affordable housing remains a priority in Looe, where property prices continue to rise.
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