Decision details
Empty Residential Properties – Transfer to ADL Ltd
Decision Maker: Chief Executive, Director Finance - Section 151 Officer
Decision status: Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
The decision agrees to transfer the specified
empty residential properties to ADL in line with the Executive
Decision in December 2015 and the following related
objectives:
• To maximise revenues for the Council.
• To hold, manage and operate high quality private
lettings.
• To improve supply, quality and quantity of private rented
housing.
• To act as a responsible and equitable landlord.
• To deliver long term capital appreciation.
• To support the Council’s strategic vision and
objectives.
The following tranche of empty residential units transferred back
to the Council from registered social landlords and following a
review of the business case it has been agreed that they will be
transferred to ADL Ltd:
• Flat 2, 12 Broad Street – a two story, 2 bedroomed
flat.
• Flat 2, 9 Westgate Street – a one bedroomed
flat.
• Flat 7, 35 Parsonage Lane – a one bedroomed
flat.
Decision:
To transfer the following empty properties to
Aequus Developments Ltd for refurbishment and letting:
• Flat 2, 12 Broad Street – a two story, 2 bedroomed
flat.
• Flat 2, 9 Westgate Street – a one bedroomed
flat.
• Flat 7, 35 Parsonage Lane – a one bedroomed
flat.
Alternative options considered:
The business case reviewed a 125 year lease on
the open market, investing in long-term gilts and repaying
borrowing.
Publication date: 05/11/2019
Date of decision: 13/06/2019