Decision details

David Roberts, Head of Property and Asset Management as authorised by the cabinet report of 11 November 2015 authorises the purchase of the dwelling at 17 Old Gloucester Road as it has been considered that it is suitable for use as affordable housing (in accordance with the parameters as set out within Section 4.5 of the Cabinet report). This acquisition falls within the amount subject to a total cap on the consideration paid for the entire portfolio of £1 million.

The acquisition of 17 Old Gloucester Road, Cheltenham, GL51 0WS with exchange and completion due prior to the end of June 2016.

The sellers preferred completion date is 6 June 2016. This is an acceptable proposal; exchange can happen at any time prior to completion.

Using Right to Buy receipts to deliver affordable housing. 17 Old Gloucester Road will deliver one affordable housing unit in line with the recommendations set out in the Cabinet report. Using the Right to Buy receipts to purchase homes from the open market, which will then be converted to affordable housing. This will ensure that repayments of receipts to the government can be avoided.

Options considered are outlined in the Cabinet report attached. They outline if the money is not spent on development (which is difficult to predict) then the money has to be repaid to Central Government. Using the receipts to buy properties on the open market delivers housing and prevents the Council from having to pass the money to Central Government.

Included within the attached Cabinet report, page 5, para 6.

The proposed alternative use of Right to Buy Receipts has been discussed with and has the support of the Joint Programme Group (JPG). This group is made up of senior officers from both the council and Cheltenham Borough Homes. Also the Cabinet Member Peter Jeffries (Cabinet Member Housing) is in support.

Results of consultation were positive.