The 'Fraud' That Sold Petticoat Lane Down the River ; a Standard Investigation Reveals That Tower Hamlets Council has Offloaded London's Famous Market to Developers for Peanuts
Evening Standard - London › January 22, 2007
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Summary
APRIVATE company has taken over much of London's most famous street market by "fraud," according to one of the company's own directors.
In a barely publicised deal, dozens of lucrative shops along the streets which make up Petticoat Lane - together with more than 400 flats on prime land inches from the City - have been given by their previous owners, Tower Hamlets council, to a company called Eastend Homes.See the full content of this document
Extract
The 'Fraud' That Sold Petticoat Lane Down the River ; a Standard Investigation Reveals That Tower Hamlets Council has Offloaded London's Famous Market to Developers for Peanuts
The shops alone are estimated to have an open-market rental value of more than Pounds 1 million a year. However, Eastend Homes obtained the entire portfolio for nothing - and the council is even paying the firm to rent some of the properties back.
The director concerned, Brad Prasad, resigned earlier this month, saying he is "upset and angry" at the alleged fraud. He has now gone into a safe house after receiving an anonymous death threat and p...See the full content of this document
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