Decision details

To seek approval of the purchase of 48 Stoneycroft, Hemel Hempstead, Hertfordshire, HP1 2QE

Decision Maker: Assistant Director - Housing

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

The Stoneycroft development consists of 8 flats over garages in two blocks of 4 flats, as well as two blocks of 5 and 11 garages directly in-front of the bedsits.
As part of the on-going business plan for New Build Social Housing in the Borough, Stoneycroft has been selected as a potential site for development.
Only 1 of the 8 flats is a leasehold property – The rest are all rented at social rent.
Housing Development have appointed Brasier Freeth to liaise with the potential vendor. They have negotiated down a fair value selling price of £135,000 – This is in line with the Red Book Valuation.
If DBC do not purchase the property, then we will not be able to develop the scheme for much needed new social housing in this area.
The property will be used as much needed Temporary Accommodation in the intervening period, whilst the scheme is being developed, which will generate a licence income and remove any ongoing security of tenure issues.

Decision:

To seek approval for the purchase of 48 Stoneycroft, Hemel Hempstead, Hertfordshire, HP1 2QE for up to a maximum sum of £135,000 (One hundred and thirty-five thousand pounds only).

Alternative options considered:

Option 1 - Purchase and develop site.
Option 2 - Not purchase and not develop site.
Option 3 - Delay purchase.

Publication date: 28/04/2021

Date of decision: 23/04/2021

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