Church Commissioners to sell remaining SE1 housing

Mr Bell said: "Following the recent sale of residential properties at Stoke Newington, Maida Vale and part of the Waterloo estate, the Commissioners have decided to prepare their remaining properties on the Octavia Hill estates in London for sale.

"Over the coming months the Commissioners will be compiling information on these properties and this process will most likely take them into the autumn. They will be in a position to offer further information on how the sale will proceed when this stage is complete."

Part of the Waterloo estate, comprising 130 homes, was sold for £70 million in May this year.

Explaining the reasons for the earlier sale, chief surveyor Paul Clark explained that the Church Commissioners are not a focused housing provider: "We have a wider investment portfolio and have a duty to deliver the best possible returns on our investments to help fund the work of the Church across the country. This duty sometimes involves making changes such as this."