Purpose

See attached ODR for details

Content

To support the proposal for the purchase and
repair of 43 Stockil Road, Hyde Park, DN4 5AU.

The purchase price is £125,000 and provisional inspections
have estimated the further investment costs to be £24,000
– £26,000k to ensure the property is fully modernised,
and up to standard.

Alternative options considered

Option 1 – Approve the property purchase
– (recommended option)
This option will support the acquisition programme by utilising
available funds to maximise the opportunity to provide additional
housing provision across the borough. Whilst consideration has been
given to the Housing Needs Survey, property bidding data in this
instance has indicated a high demand for 3 bedroomed properties in
the area.

Option 2 - Do Nothing
This option would lose the opportunity to deploy approved funding
to help ease the demand for properties on the housing waiting
list.