The Cabinet Shareholder Group of Wiltshire Council met on Tuesday 9 June 2026 to discuss updates on Stone Circle activities. The meeting agenda also included standard procedural items such as reviewing previous minutes and receiving announcements.

Stone Circle Update

The meeting was scheduled to receive a report providing an update on the activities of Stone Circle. This included a review of the Stone Circle 2026/27 Business Plan and a revised financial model. The report detailed financial modelling for Stone Circle Housing Company, considering its long-term financial position and potential diversification. It also included an assessment of acquiring new properties and clarification on long-term repayment assumptions.

Discussions were anticipated regarding the realism of purchase and rental prices, the rate of bad debts, and the apportionment of running costs. The number of years to reach a breakeven point and the inclusion of Stone Circle overheads in data comparisons were also points for consideration. The report was expected to cover void levels, the rollover of properties into the 2026/27 financial year, and the need for robust evidence for the proposed acquisition of 1 and 2-bedroom flats. Timeframes for property lettings, inspections, and the management of operating and maintenance costs were also on the agenda.

Furthermore, the meeting was to consider a review of options for Stone Circle Housing Company and Stone Circle Development Company, prepared by RedQuadrant. This review explored the current context and presented a range of options, including immediate operational improvements, widening objectives, diversifying the business model, and evaluating transformative options. The report was expected to provide a framework for evaluating future Stone Circle proposals, with discussions anticipated on debt restructure, the impact of interest rates, and the potential for partnership working.

The report pack indicated that the Shareholder Group was recommended to:

• Note the content of the Stone Circle 2026/27 Business Plan and Revised Financial Model.
• Approve the proposed flats pilot.
• Delegate to the Director of Legal & Governance to implement and approve the proposals.
• Approve the rationalisation of Stone Circle Housing's portfolio.
• Approve the option for Stone Circle Development to charge a market rent for its properties.

In relation to the Review of Options Report, the Shareholder Group was recommended to:

• Note the content of the reports for both the Housing Company and the Development Company.
• Indicate to Stone Circle which proposals should be considered for inclusion in the 2027/28 Business Plan, specifically regarding operational improvements and widening objectives.

The report pack also noted that the meeting would consider excluding the press and public for agenda items 8 and 9, as it was likely that exempt information relating to the financial or business affairs of any particular person would be disclosed. This exclusion would be in accordance with Section 100A(4) of the Local Government Act 1972, where the public interest in withholding the information outweighs the public interest in disclosing it.