Issue details

To approve the leasehold disposal of the property at 28 Cordwainers Road on a shared ownership basis

 

 

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.

 

Decision type: Key

Decision status: Recommendations Approved

Notice of proposed decision first published: 08/04/2021

This decision will be taken under urgency procedures.

Reason for urgency:
On this occasion it has been impracticable to publish a notification of this key decision via the Forward Plan 28 days in advance of the date the decision is to be made.

Officers have requested the urgency procedure in relation to the first shared ownership sale that achieved practical completion in December. CBH, on behalf of CBC, have now secured a prospective purchaser who has been through the relevant affordability assessment in accordance with the government guidance. Anthony Collins LLP have been appointed as external solicitors acting on behalf of CBC in relation to this sale, and contracts are now drafted and ready for execution (subject to approval from CBC), which will enable the sale to progress and the purchaser to move into the property.

The Chair of Overview and Scrutiny, Cllr. Chris Mason, waived call-in on 16th April 2021.

Anticipated restriction: Part exempt  - View reasons

Explanation of anticipated restriction:
Appendix 1 contains confidential information

Contact: Dominic Stead.

Consultation process

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.

Decisions

Documents