To approve the leasehold disposal of the property at 28 Cordwainers Road on a shared ownership basis
Decision Maker: Head of Property and Asset Management, Dominic Stead
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
To approve the leasehold disposal of the property at 28 Cordwainers Road, Cheltenham, GL52 2DQ, on a shared ownership basis, on the basis of the terms outlined in the in the confidential appendix attached.
To approve the mortgage offer and legal documents associated with the shared ownership disposal, including the shared ownership lease and transfer.
Reasons for the decision:
The Leader Allocation of Functions, approved 19th March 2021, delegated authority to the Head of Property and Asset Management, or, in his absence, the Executive Director of Finance and Assets, to take all decisions necessary (including key decisions) to enable the disposal of HRA CBC new build properties for shared ownership tenure, to facilitate timely executive decisions and enable timely sales of shared ownership homes.
The principle of providing mixed tenure developments and maximising the provision of affordable housing on developments is well established and agreed between CBC/CBH Officers and Cabinet colleagues.
The sale of shared ownership properties is to be in accordance with the stipulations outlined in the Homes England Capital Funding Guide which outlines the rules and procedures that must be followed. CBH is well versed in ensuring adherence to the specifics noted in the Capital Funding Guide.
Alternative options considered:
To refer the decisions to Cabinet or Cabinet Member. Not favoured because of the need to facilitate timely executive decisions.
Other reasons / organisations consulted
The principle of CBC/CBH pursuing mixed tenure developments providing shared ownership properties is well established and agreed with Cabinet Members and Senior CBC/CBH Executive Members (via SHDG and OWG).
It is agreed at Officer level that the need for timely sales transactions is critical to enable shared ownership properties to be occupied as soon as possible.
Anthony Collins Solicitors have been appointed to act on behalf of CBC/One Legal who have reviewed and advised that the legal documentation relating to the disposal is agreed.
Contact: Dominic Stead, Head of Property and Asset Management Email: email@example.com.
Publication date: 30/04/2021
Date of decision: 30/04/2021