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
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: firstname.lastname@example.org Tel: 01246 345150.