115 Acquisition of the homes at 1A Ashley Gardens PDF 234 KB
[Report of the Director of Housing, Regeneration and Planning. To be introduced by the Cabinet Member for Housing and Estate Renewal.]
This report seeks Cabinet approval for the acquisition from Berkeley Square Developments ARS Limited (“BSD”) of the freehold interest of a block of flats to be known as 1A Ashley Gardens
Additional documents:
Minutes:
The Cabinet Member for Housing and Estate Renewal introduced this report which sought approval for the acquisition from Berkeley Square Developments ARS Limited (“BSD”) of the freehold interest of a block of flats to be known as 1A Ashley Gardens.
The Cabinet Member noted 1A Ashley Gardens would provide 104 high quality new Council homes at Council rents by May 2022.
Further to considering exempt information at item 25,
RESOLVED
Reasons for decision
The freehold acquisition of the 1A Ashley Gardens site will allow the Council to secure the rapid delivery of Council homes at Council rents.
This responds to local aspirations to see an increase in the number of new social rented homes delivered. By delivering ten per cent of the Borough Plan target of one thousand Council homes at Council rents by May 2022, it helps meet a key commitment of the Administration. It also delivers an improved mix of affordable housing within the scheme and in Tottenham Hale, which better meets the needs of local people.
Alternative options considered
Not to acquire the homes. This would require Berkeley Square Developments ARS Limited (BSD) to dispose of the homes to a Private Registered Provider on the basis of the current consented scheme which comprises 64 Shared Ownership homes and 33 homes at London Affordable Rent. This option was dismissed for three reasons: