Questions raised over the imminent low-cost sale of a government-owned airline’s former headquarters
The abandoned building, at 88 Green Lanes, Stoke Newington, could imminently be sold at a drastically reduced price
A £1 MILLION Hackney property owned by the Turkish Cypriot government is set to be mysteriously sold for a fraction of the price.
Londra Gazete has learned that the building, which formerly served as branch for the now-bankrupt Cyprus Turkish Airlines (KTHY), is on the verge of changing hands for significantly less than its immediate neighbours.
The three-storey building is on a stretch of Green Lanes in Stoke Newington and features two flats above space for a business on the ground floor.
KTHY went bankrupt in 2011
Land Registry records indicate the owner of the building is KoopBank, a cooperative bank based in the Turkish Republic of Northern Cyprus, who has kept it vacant for four years.
A source told Londra Gazete: “It’s mysterious that this building is being sold without any kind of public announcement here or in Cyprus. It’s going for such a cheap price too.”
The source understands the entire property at 88 Green Lanes will be sold for around £600,000, but believes it is worth over £1 million.
KoopBankowns the building in Stoke Newington
Records on housing website Mouseprice.com that a single two-bedroom flat immediately next door was sold alone in 2010 for £400,000.
This and the relative size of the KoopBank property indicate a £1 million price tag is easily attainable, the source said.
Cyprus Turkish Airlines went out of business after declaring bankruptcy in 2011.
KoopBank could not reached for comment before Londra Gazete went to press on Wednesday evening.