Issue details

Purchase of two new properties on Hazlehurst Avenue

Discussion between the Housing Delivery Manager and the developer identified the development of the former Chamber of Commerce site as one at risk of stalling. Through the intervention of the Housing Revenue Account to purchase two properties under the strategic acquisitions policy will enable a capital injection into the scheme to enable the development to continue.
The properties to be purchased are pair of three bedroom semi detached houses at £181,250 each
Initially the purchase of four properties was considered (2x3BHSE and 2x2BHSE) but concerns over the value for money of the two bedroom properties and an increase of interest from private buyers on the site meant the Council reduced its interest to the pair of three bedroom semi detached properties and is looking at working with the developer on the next phase of properties on the development.
The money will be allocated from the Housing Capital Programme 2019/20.

Decision type: Key

Reason Key: Decision to dispose or acquire any interest in land or buildings with a value of £50,000 or more;

Decision status: Recommendations Approved

Notice of proposed decision first published: 02/12/2019

Decision due: 2 Dec 2019 by Assistant Director - Housing

Contact: James Crouch 01246 345150 Email: Tel: 01246 345150.