Decision details

To agree the disposal of 12 Bouncers Lane, Cheltenham, Gloucestershire GL52 5JF.

The property is owned by the Council as part of the Housing Revenue Account and has recently become vacant. The property requires substantial investment (approximately £100k- £125k) to bring it to a standard that meets the Safety and Quality Consumer Standard before being re-let.
In line with Government guidance, the Council are advised not to hold high value social housing. The capital receipt can be re-invested for housing and regeneration activity that supports the Council’s Corporate Plan priorities.

The following options were considered and rejected:
1. Re-let following minimal works. Rejected as this would not meet the Safety and Quality Consumer Standard
2. Re-let following full renovation. Rejected as additional conversion works would be required to provide an expected layout and standard of accommodation. (Property is of an unconventional layout due to the needs to the previous tenants).
3. Re-let following full renovation and conversion. Rejected as NPV would take many years to return a positive NPV and it is therefore considered that the fund would be more effectively spent on other, more suitable homes.