Purpose

 

The purpose of this Decision Notice is to give
approval for South Cambridgeshire District Council (SCDC) to
enter-into Heads of Terms followed thereafter into a Development
Agreement and Golden Brick to purchase 3 no. affordable homes
representing the S106 40% affordable housing contribution on a site
at High Street, West Wratting. Approval is also being sought to
advertise and sell one of the dwellings (plot 3) under the shared
ownership lease scheme.

 

This scheme was brought forward to us by Avebury,
acting as agents on behalf of the developer.

 

The site will be developed by Dyason Developments Limited who are a small
developer and are looking to build their first small site with SCDC
New Build.

 

In its entirety the site totals 9 new homes - with
the policy compliant 40% affordable housing of 3 new affordable
homes.

 

Dyason
Developments are due to start on site in April 2024
and have issued draft Heads of Terms to proceed on.

 

It should be noted that the payback is in year
34.

 

This site is one of the development sites that will
make up the target of 75 New Affordable Homes per year for the
2024/25 financial year, with a delivery program of 10 months from
April 2024.

 

Enabling/Strategic support

Strategic Housing fully support this mix, as it will
provide much needed homes in West Wratting where SCDC has existing
stock .

The overall affordable housing mix has previously
been agreed by Housing Strategy as meeting the housing needs in
West Wratting and its environs.

 

Scheme Details:

 

Planning Reference number :

The site has planning (ref: 22/04689/FUL)

 

The S106 is signed and completed.

 

Mix:

Description of

No of

Type of

Stock

No of

Units to be delivered:

Units:

Tenure:

Category:

Beds:

 

 

 

 

 

2 bed house

1

Rent

House

2

3 bed house

1

Rent

House

3

2 bed house

1

Shared Ownership

House

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                       

 

Contract type:

The contract will be a Golden Brick and Development
Agreement.

 

Legal Advice : Enquiries have been made through EM
LawShare for legal services through the
contract negotiation.

 

There are no other suitably sized permissioned sites
in West Wratting that are available for consideration at this
time.

 

Financial

Use of Right to Buy Receipt:

This scheme consists of 2 rented homes which allows
the use of Right to Buy receipts totalling £204,305.00

 

Use of Commuted Sum:

No Commuted sum is being used on this
site.

 

The scheme is considered to be value for money for
the council. The offer and price per sq. m is commensurate with
sums paid for recent council new build development schemes. In
addition a robust financial appraisal has been carried out and a
commercially sensitive financial appendix is attached. The scheme
has a Payback year within the business plan parameters.

 

Content

To
approve South Cambridgeshire District Council to enter into Heads
of Terms followed thereafter by a Golden Brick and Development
Agreement for the build of the 3 affordable homes and to approve of
the sale of one unit under the shared ownership lease
scheme.