A landlord faces a £20,000 repair bill following a Coventry tower block flood caused by the theft of a water pipe worth just £1.David Frew says he is devastated by Friday’s flooding in Caradoc Hall, Henley Green, Coventry.
It was caused by thieves taking a small piece of copper piping from a store room on the 12th floor.
He co-owns 102 of the 128 flats and has been left reeling at the thought of footing a mammoth repair bill for an incident started by the theft of a copper water pipe worth just £1.
He said: “Nearly 200 people had to leave their homes that night, contractors have been working around the clock with hardly any sleep to fix it and it will cost £20,000 in repairs - all for a copper pipe that will be worth £1.”
He says 80 per cent of crime committed against the building is metal related and fears for the building’s future because of soaring insurance premiums.
“Caradoc Hall could close because of this,” he added.
“It would leave tenants without homes and people would be without jobs.
“I and others have been left broken by this.”
The flood sent hundreds of gallons of water cascading down stairwells and lift-shafts.
It also sparking an electrical fire in the basement which plunged the 16-storey block into darkness.
Nearly 200 residents, most of whom are in receipt of housing benefits, were evacuated from the high-rise building.
While many found temporary accommodation with family and friends, some 80 tenants were housed in B&Bs and hotels across the city.
The tenants are expected to return to Caradoc Hall by the end of today.
Mr Frew, a 40-year-old former estate agent who lives in Rugby, joined forces with a business partner to buy the flats three years ago.
He said: “My business partner wanted to give something back and decided investing in the flats would be a good way to do that.
“When we bought them hardly anyone was living there and they were in a dilapidated state so were invested time and energy in renovation.
“We didn’t turn a profit in those three years but we expected to pay ourselves wages for the first time next month.
“I was elated at the thought, now I’ve hit rock bottom.
“We got into it because we wanted to prove that you could make a living out of social housing. Looking back I must have been mad.”