Decision details

Disposal of 20 Ritcroft Close Hemel Hempstead

Decision Maker: Chief Finance Officer (S151)

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

Reasons:
1.This property, due to its location and type would command a higher than average market value (Acquisitions (Right to Buy: Buy Back) and Disposals Policy 2024 item 7.3).
2.The property is in need of work to remove any Health and Safety rating system hazards or asbestos containing materials that require a high level of ongoing management in conjunction with extensive works to comply with Decent Homes provision i.e rewire, heating upgrade and void repairs. The main cost of the works to be undertaken is the underpinning as detailed in the Schedule of works report tab QUOTE.
3.This property, was built in 1953 due to the age of the property and location is expected to command a high average market value if sold and DBC will be unable to recover the associated costs over the 30 year Business Plan (Acquisitions (Right to Buy: Buy Back) and Disposals Policy 2024 item 7.3)

Decision:

To dispose of HRA property due to the costs to bring the property to a lettable standard

Alternative options considered:

Option 1 -
This property has an estimated valuation of £150,000 to £325,000.
It is a three bedroom semi-detached house. Estimated costs required to bring it up to the lettable standard are £77,754, which include the estimated costs due to the underpinning

Publication date: 14/01/2025

Date of decision: 10/01/2025

Accompanying Documents: