Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Exempt report of the Corporate Director (Housing and Communities) on a potential development opportunity within the Borough.
In February 2021 the Council commenced discussions regarding an opportunity for a land purchase and turnkey agreement to purchase 111 apartments at 73 Bridge Road East, Welwyn Garden City.
The site covers 0.54 hectares and is in a sustainable position near to Welwyn Garden City town centre. The developer is keen to agree a sale as soon as possible. Due to the interest in the site, the Council are keen to progress as soon as possible.
Subject to a deal being agreed, it is envisaged that the two blocks would be purchased for the Affordable Homes Programme. This acquisition would provide additional properties to the Council’s social housing stock and provide additional affordable housing to meet local housing need.
The initial financial appraisals and assessment of build costs indicate that the scheme will be financially viable.
(1) Cabinet agreed to delegate authority to the Director (Housing and Communities), in consultation with the Council’s Section 151 Officer, Monitoring Officer and Executive Members (Resources and Housing and Community), to progress negotiations for the purchase of the site, subject to planning approval, suitable financial appraisals and a suitable legal agreement.
(2) Subject to suitable terms for proceeding with the purchase being reached, a further report to be brought to Cabinet setting out a recommendation with the detailed proposal.
Publication date: 12/03/2021
Date of decision: 09/03/2021
Decided at meeting: 09/03/2021 - Cabinet