LONDON -- It seems like a hearty protest with the help of Russell Brand can do wonders.
The residents of the New Era estate in east London learnt Friday that the developers who bought their homes, with plans to refurbish and relet the property at much higher rates, are selling it to an affordable-homes provider.
Asset management firm Westbrook Partners is on the verge of agreeing to the transfer after negotiations with London Deputy Mayor Richard Blakeway and Hackney Mayor Jules Pipe, The Guardian reported.
The sale is expected to go through before Christmas.
Westbrook was reportedly planning a rent hike from around £800 ($1250) a month to more than £2,000 ($3,100).
Residents staged a protest outside of the firm's Mayfair offices in central London earlier this month, where Mashable spoke to several of the tenants. One resident, Patricia, said the plans had "made everybody ill."
Families who had lived in the area for generations faced the prospect of being moved further afield, and in Patricia's case, as far as Clacton-on-Sea, 80 miles away on the coast.
Comedian Russell Brand joined the group as they marched to the UK Parliament to present a petition with 300,000 signatures to Prime Minister David Cameron earlier this month.
Exciting Trews later on the New Era Estate with the families that stood up to corporation and government and won.— Russell Brand (@rustyrockets) December 19, 2014
Westbrook did not immediately respond to a request for comment.