Investigations into off-shore company ownership of properties in Church St Ward, City of Westminster reveal very surprisingly that they have been buying up ex-Right to Buy (RtB) properties in council blocks. An example is Coopers House, St Lyons Place, NW8 where we have as many as 4 properties.
The City of Westminster has the biggest concentration of properties owned by off-shore companies registered in places like British Virgin Islands and Panama in the UK. But the investigation into Church St Wards shows its not been happening just in the posh parts of Westminster like Mayfair but also into local Council Estates. It must mean the private landlords are renting out these properties have found ways to dodge paying their capital gains taxes and maybe other forms of taxes.
The data above was provided by Private Eye list of foreign owned properties in the UK. For full details on foreign owned properties in Church St Ward, please see click here for the full breakdown Church Street property map