Decision Maker: Director - Bindu Arjoon
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
To purchase property in line with the Senior Estates Valuer valuation and taking into account that the value of the property was determined at the time it was accepted under the Right of First Refusal, which was prior to the current ‘lockdown’ situation. Stamp Duty will also apply to this purchase.
To make best use of the council’s housing assets, increase stock provision and rental income.
This property is a one bedroom second floor flat within a council owned block of 8 flats amongst a larger, predominantly council owned, estate, and was purchased by the sitting tenant under the Right to Buy on 31 May 2015.
ECC has received an offer notice under the housing (Right of First Refusal) (England) Regulations 2005 from the current owner of the property and must now make a decision whether to:
ECC wishes to accept the offer and purchase the property for the following reasons:
This is the best option and will seek to streamline the HRA portfolio, reducing operational costs for repairs and planned works.
Publication date: 27/07/2020
Date of decision: 27/07/2020