Decision details

To approve the leasehold disposal of 5 properties at  Radford Court, Princess Elizabeth Way, Cheltenham, GL51 7BT on a shared ownership basis, on the basis of the terms outlined in the confidential appendix attached.

To approve the mortgage offers.

To approve the legal documents associated with the shared ownership disposal, including the shared ownership lease and legal contract.

To approve the lease for the flats and the houses at Radford Court and approve the transfer document.

The Leader Allocation of Functions, approved 19^th 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. 

To refer the decisions to Cabinet or Cabinet Member. Not favoured because of the need to facilitate timely executive decisions.

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. 

WBD 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.