Petition Forces Property Developers To Pull Out Of New Era Estate

In an unexpected spot of good news, public pressure has forced Benyon Estates to withdraw their interest in redeveloping East London's New Era estate. Benyon Estates is owned by aristocratic Tory Richard Benyon, the richest serving MP in the House of Commons. Having bought the sprawling Hoxton New Era estate his company immediately announced plans to hike up rents to 'market value', a move that would have rendered almost all of the long standing residents homeless. It was a story that encapsulated for many the current struggle between landlords and tenants, and the march of gentrification. A petition quickly went online demanding that Benyon Estates commit to maintaining reasonable rent in the estate – something they could do whilst stil making a considerable profit. With hundreds of thousands signing the petition, Benyon got cold feet, and have pulled out of the operation completely – a victory for the people of New Era estate, but not the end of the struggle. They are now trying to get property owners Westbrook Partners to commit to keeping rents affordable, so that just shy of 100 families aren't put out onto the streets. Have a look at their facebpook page here for more details…