Decision details

Disposal of 48 Ritcroft Street

Decision Maker: Chief Finance Officer (S151)

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

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 major 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. installation of a central heating system, rewiring, new kitchen, bathroom, asbestos removal and major clearance of collapsed structure to the rear gardens to ensure H&S compliant.
3.This property, was built in 1954 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 the 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 £275,000 to £310,000.
It is a three bedroom semi-detached house. Estimated costs required to bring it up to the lettable standard are £43,269.84, (please see above regarding estimated costs due to the collapsed structure in the rear garden) including a new kitchen, new bathroom, rewire, heating and extensive garden works.

Publication date: 15/01/2025

Date of decision: 14/01/2025

Accompanying Documents: