Purpose

To seek approval
from the Portfolio Holders to agree the freehold sale at Auction of
a three bedroom property in Bradfield that is of non-standard
construction and requires substantial structural and maintenance
work.

Content

(a)    
That the disposal of the property in Windmill Road,
Bradfield at Auction be approved with the approved guide price and
approved reserve price; and

 

(b)    
That the Corporate Director for Planning and
Community be authorised to complete the sale on these and any other
terms he deems appropriate.
 

Reasons for the decision

The
structure of the property has exceeded its life span, and extensive
works would have to be carried out to the structure as well as full
refurbishment to bring the property back to a condition suitable to
meet the standard for housing stock. In the current condition the
property in uninhabitable and unlikely to be mortgageable therefore
sale at Auction is most practical.
 
The
Council’s Housing Asset Management Plan notes that a
considered approach is taken to disposal of stock that is
disproportionately costly to repair or upgrade to an appropriate
standard.
 

Alternative options considered

The following
options were considered and eliminated:
 

·     
Do nothing: the property will continue to deteriorate causing
nuisance to neighbours; this will also have a negative impact on
the Council’s reputation

·     
Repair and refurbish: this has a
significant capital cost and resource implications and is
disproportionate to a single three-bed property in this area.

·     
Demolish and redevelop: this has a
significant cost and resource implications, along with likely party
wall complications.  The cost of
demolishing and rebuilding a single house is significantly more
expensive than carrying out a small development of properties where
the higher scale can bring down the cost per unit.  In this instance with just a single property, the
investment cannot be justified. 

·     
To sell the property on the open market via an estate agent: Due to
the likely unmortgageable nature of the
property, sale in the open market is more complicated, both in
finding a purchaser and in showing best value.