A homeowner in a housing complex in London with Grenfell-type cladding has been told the value of her £475,000 home has collapsed and is now just £50,000.
Galliard Homes, the developer of the 11-block complex in New Capital Quay in south-east London, is facing a £30m-£40m bill to replace the cladding and is locked in a legal dispute over who should pay.
— The Guardian
The New Capital Quay development—home to about 2,000 residents—is believed to be the largest private development to have flammable cladding after the 2017 Grenfell fire tragedy that killed 71 people, The Guardian reports. The apartments are now considered unsellable.
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