Decision details

To agree the disposal of 36 Higher Kings Avenue, Exeter from the existing HRA portfolio, via the open market.

To agree the disposal of 36 Higher Kings Avenue, Exeter from the existing HRA portfolio, via the open market.

Was an Equality Impact Assessment carried out and what were the findings:

N/A – Although this is a delegated decision, it does not directly affect people, or have the potential for different treatment, access, outcomes or levels of satisfaction. 

The property is a three bedroomed semi-detached house built around the middle of the 20^th century, with off road parking and a garage.  It does not fit the standard archetype of the existing HRA portfolio.  The property has recently become void following the death of the tenant.

An independent valuation of the property has recommended that it be placed on the market to achieve offers ‘in the region of £325,000’

The HRA has no acquisition budget for the current financial year. Receipts from the sale of the property could be used towards the purchase of former ECC properties lost through the Right to Buy.

The property is located in the Pennsylvania area of the City and considered to be ‘desirable’. Although it could reasonably continue to be used as part of the HRA portfolio, it does not fit in with the standard archetype which can mean that repairs will sit outside of the PPP contract. We have agreement to dispose of a number of assets in order to contribute towards budgetary constraints this financial year and, given the relatively high valuation, it would be sensible to consider disposing of the property and capitalize on the receipt as opposed to re-letting it.