Purpose

The Council (HRA) entered into a development
agreement to purchase 70 homes on the development at New Fosseway
in partnership with New Fosseway LLP in May 2024.
Due to the change in the HRA financial position and Business Plan,
the decision was made to terminate the contract for the purchase of
these homes, subject to a suitable alternative affordable housing
provider being found by the LLP, at Full Council on 25 February
2025 with the final sign off delegated to the Executive Director in
consultation with the Chair of the Homes and Housing Delivery
Board
A suitable alternative offer has been received which allow Bristol
City Council (BCC) to now terminate the contract, subject to the
write off up to £110k in abortive costs.

Content

Terminate the development agreement on the
purchase of 65 homes at the New Fosseway development.
Termination includes the financial write off, of up to £110k
in legal and technical costs.