Leaseholders in a London building are still waiting for promised payouts after the freeholder, Arinium, filed for bankruptcy following a major fire in 2024. The Spectrum Building in Dagenham became a sought-after property years earlier, with prospective buyers lining up even before its sale, reflecting high demand in London’s housing market. Residents recall the urgency of securing affordable flats in the city just before the Grenfell Tower tragedy reshaped perceptions of high-rise living. With the freeholder’s collapse, leaseholders now face uncertainty over compensation and repairs amid ongoing legal and financial turmoil.
Spectrum Building leaseholders awaiting payouts after freeholder, Arinium, went bankrupt shortly after 2024 blazeSarah Williams vividly remembers the night in 2016 when she camped overnight in a car park to put down a deposit on a flat in the newly completed Spectrum Building in Dagenham, east London.“People started queuing for those flats 24 hours before they went on sale,” she said. “It was basically the only flat I could afford in London. This was a year before Grenfell, and the flats market in London was completely crazy.” Continue reading...
