Railway arches sold off with no thought for tenants, says watchdog

National Audit Office says Chris Grayling’s department ignored businesses based in arches

A £1.46bn sale of Network Rail’s property portfolio to private sector buyers was carried out without consideration of the impact on the lives and livelihoods of thousands of sitting tenants, Whitehall’s spending watchdog has found.

The National Audit Office (NAO) also found that the rent charged for 5,261 properties sold to Telereal Trillium and Blackstone Property Partners could increase by 54% over the next three to four years.

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from Property | The Guardian http://bit.ly/2VaikM8
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