Residents of New Capital Quay, a Thames-side development of 1,000 upmarket apartments in south east London, can gaze out at the glittering skyscrapers of Canary Wharf.

Or they could take a few minutes’ stroll to the world-renowned Greenwich Observatory and the Cutty Sark, according to the glossy sales brochure of Galliard Homes, the developer.

What wasn’t apparent to those who bought into the development was the fact that the buildings’ exterior cladding posed a danger to residents – something that only came to light after the tragic fire at Grenfell Tower last year.

And it will cost tens of millions of pounds to remedy. Home owners and tenants – which include users of the Government’s Help to Buy scheme, social housing tenants, a nursery and flagship Waitrose store – are caught in an almighty battle over who has to pay.

In the wake of the Grenfell fire last summer, in which 71 people died, the Government ordered an audit of properties more than 18 metres in height. Official figures released last month show 299 buildings contain the aluminium composite material (ACM) cladding that was blamed for the rapid spread of the flames.

The Government confirmed that these buildings, a mix of council-owned and private dwellings, are likely to be in breach of fire safety regulations.