The Mail online is reporting on the upcoming auction of Dock Road in Sharpness, Gloucestershire, which has left residents anxious about their future. This entire street of 24 properties, owned by the Canal and River Trust for 150 years, is now being put up for sale as a single lot, with an estimated guide price of £1.6 million. While the trust has reassured tenants that the sale will not require anyone to leave or alter their tenancy agreements, many residents fear that a new owner could impose rent increases that may force them out of their homes.

Residents like Amanda Cawston, who has lived on Dock Road for almost three years, feel a deep connection to their homes and worry about the potential instability this sale could bring. She noted, “We thought we would be here forever and now we don’t know what the future holds.” Likewise, Dave Morse, a 78-year-old tenant of 25 years, expressed concerns about possible rent hikes and the new rules a landlord might impose.

The trust has stated that the sale is primarily a financial decision, potentially to generate funds for its broader responsibilities, which include maintaining 2,000 miles of canals, rivers, docks, and reservoirs. The properties, collectively generating around £168,000 in annual rent, will be sold along with other mixed-use buildings, a workshop, garages, and vacant land.

However, tenants remain uneasy. They were informed of the sale through a letter, a method some found impersonal. Suze Ashford-Barnes, a resident for seven years, shared that while she understands the financial rationale, she feels disappointed that tenants weren’t given a more direct communication from the trust itself.

This sale reflects broader trends in the UK rental market, where properties are increasingly sold to large investors or corporate landlords, often resulting in rent increases for existing tenants. As November 7 approaches, Dock Road’s residents hope that any new buyer will keep rents affordable and maintain the sense of community that has made Sharpness their home.

The original article can be seen here.