Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: October 16, 2025

Purpose: To approve the acquisition of a property in Bairstow Close, Borehamwood for the sum set out in the Part 2 report and to seek approval to proceed with the purchase and subsequent conversion works.

Content: Decision   RESOLVED that Cabinet: 1.     Approved the acquisition of the property identified, and for the price stated, in the Part 2 report later on the agenda, subject to satisfactory valuation and legal due diligence. 2.     Authorised officers to undertake conversion works as set out in the Part 2 report. 3.     Approved the application of Local Authority Housing Fund (LAHF) grant funding towards the purchase. 4.     Authorised the Head of Asset Management & Engineering Services and Chief Finance Officer in consultation with the Portfolio Holders for Asset Management, Finance & Budget and Housing & Housing Development to agree detailed sale terms on the initial acquisition but also the subsequent sale based on red book value for affordable rent. 5.     Noted that the sale proceeds from the completed units would replenish capital receipts.   Reasons for decision   1.     The acquisition contributed directly to the Council’s objective of increasing the supply of larger family homes and affordable housing within the borough. 2.     The use of Local Authority Housing Fund (LAHF3) grant significantly reduced the Council’s net capital investment, maximising value for money. 3.     The purchase price represented good value relative to the independent valuation. 4.     The property was well maintained, required only moderate works to achieve separation into two units, and presented a low level of refurbishment risk. 5.     The proposal supported the Council’s Housing Strategy, Asset Management Plan, and wider corporate priorities to make best use of available funding and assets for community benefit.   Alternative Options Considered   1.     Do Nothing: Not acquiring the property would have resulted in the loss of an opportunity to deliver two additional family-sized homes within the borough, partly funded by external grant. This would have reduced the Council’s ability to utilise available LAHF funding within the required timeframe and limit progress against housing delivery targets. 2.     Acquire and Retain as a Single Dwelling: Retaining the property as one home would not have made best use of the accommodation or available grant funding and would have offered limited flexibility in meeting housing needs. Conversion into two units provided a more efficient and sustainable long-term use.