Cornwall Council has taken a brave and unique move to solve the serious issue of affordable housing in the charming Cornish town of Looe. The council’s cabinet adopted a suggestion on September 13 to transfer ownership of 11 Grade II listed Coastguard Flats, each worth £640,000, to a community land trust for the nominal sum of £1 per flat.
This historic decision was made in response to the council’s determination that the growing maintenance expenses associated with these ancient flats were unsustainable. The flats were given over to the non-profit Three Seas Community Land Trust after they committed to embark on a £1 million rehabilitation project supported by donations.
Cornwall has long faced a serious lack of affordable accommodation, with many locals priced out of the property market as a result of the increase of second home ownership and holiday rentals. The proposal by Cornwall Council to make these flats available for the practically symbolic price of £1 represents a determined attempt to tackle this issue and ensure that the core of the Cornish town stays accessible to its citizens.
The decision has drawn both acclaim and criticism. Critics believe that transferring important properties for such a small fee may set a precedent that can be used in the future. However, supporters of the proposal argue that it is a crucial step in ensuring that housing in the region remains affordable for everybody.
The Grade II listed Coastguard Flats in Looe have been a major feature of the town’s environment for years. Only their architectural charm rivals their historical significance, making them exceedingly desirable real estate. However, the significant upkeep and repair requirements that come with owning such old houses are a drawback.
Cornwall Council was at a crossroads because it could no longer afford to carry the financial burden of maintaining these flats. Recognising the critical need for affordable housing, they explored an alternate approach, which resulted in the one-of-a-kind decision to transfer ownership to a community land trust.
The flats have now been transferred to the Three Seas Community Land Trust, which has set the lofty objective of restoring them to modern standards. The £1 million rehabilitation project, funded by grants and donations, will not only preserve the flats’ historical character, but will also guarantee they meet the requisite safety and quality standards.
Councillors who backed the vote emphasised the need of keeping the units affordable housing. This decision represents a commitment to the community’s well-being in a county where demand for second homes and vacation rentals has driven up property prices, making it increasingly difficult for people to find reasonable places to live.
In Cornwall, the topic of second home ownership and vacation rentals has been problematic. While the county’s natural beauty and seaside appeal have made it a popular tourist and property investment destination, it has also caused a housing crisis for its citizens.
Local people have expressed concern about being priced out of their own towns, as properties are frequently purchased as second homes or used for vacation rentals. This not only raises property prices but also lowers housing availability for folks who live and work in the area all year.
Cornwall Council’s decision to transfer ownership of the Coastguard Flats to a community land trust at no cost is viewed as a proactive effort to combat these trends. By doing so, they are speaking out against the deterioration of Looe’s affordable housing options and setting a precedent for other regions facing similar issues.
The Three Seas Community Land Trust faces a difficult assignment, but their dedication to the cause is strong. Their investment in the renovation of these historic flats is about more than just preserving the past; it is also about ensuring a more equal future for the citizens of Looe.
