Decision details

Property Acquisition - Stanmore, Winchester (less exempt appendix) (DD22)

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Decision:

That the purchase of the specified property, detailed in Exempt Appendix 1 of DD22, together with its financial appraisal, be approved.

Reasons for the decision:

The report seeks approval to purchase a residential property where the purchase price exceeds the key decision threshold of £250,000. The acquisition of this ex-Right To Buy (RTB) property will meet business needs and provide synergy in terms of the management of the Housing Revenue Account (HRA) estate. It meets the council’s financial criteria to ensure the acquisition represents a viable addition to the HRA stock. The purchase can be funded directly from the provision for acquisitions in the new homes capital programme.

Alternative options considered:

The local Ward Members have been consulted and supported the purchase of the property to increase the supply of local affordable family accommodation. Reservations were expressed about the timing of any future redevelopment of the plot of land adjacent to the property as this area of the Stanmore estate has seen significant development in recent years. 

Reason Key: Expenditure > £250,000;

Wards Affected: St Luke;

Contact: Andrew Palmer, Head of New Homes Delivery Email: apalmer@winchester.gov.uk.

Report author: Andrew Palmer

Publication date: 07/12/2020

Date of decision: 07/12/2020

Decided at meeting: 07/12/2020 - z Cabinet Member for Housing & Asset Management Decision Day - DISCONTINUED

Effective from: 22/12/2020

Accompanying Documents:

 

Property Acquisition - Stanmore, Winchester (less exempt appendix) (DD22){sidenav}{content}