Issue - meetings

That Cabinet:

a)       approve the proposal as set out in Option 3 – the sale of the properties;

b)       approve the progression of the sale in line with the Acquisitions & Disposals Policy; and

c)        approve the reinvestment of the capital receipt in provision of new homes.

The Business Manager – Housing Maintenace & Asset Management presented a report which presented the options appraisal for three Housing Revenue Account properties, 220-224 London Road following ongoing challenges with property condition and cost to remediate. The three options available to the Cabinet were detailed in full in the report and were to complete the extensive repair works required; to rebuild the properties; or to sell the properties in accordance with the Council’s Acquisitions and Disposals Policy. Given the analysis in the report and the outline costs of the options considered and financial appraisal, the Cabinet supported the option to sell the properties.

AGREED (unanimously) that Cabinet:

a)       approve the proposal as set out in Option 3 – the sale of the properties;

b)       approve the progression of the sale in line with the Acquisitions & Disposals Policy; and

c)        approve the reinvestment of the capital receipt in provision of new homes.

Reasons for Decision:

To ensure both value for money and ensuring that homes are decent, warm and safe. The capital from disposal of these homes will be reinvested in new homes.

The proposal links to Objective 2 of the Community Plan, to increase the supply, choice and standard of housing.

Options considered:

Retain the properties and invest to bring the homes up to standard.