1.    Approve, and agree to enter into a purchase agreement with West Oxfordshire District Council (WODC) to purchase land (the value set out in the confidential Appendix 1), property and freehold at 21 Between Towns Road (Knights Court) to progress the development of affordable homes at Between Towns Road (Knights Court).

The decision to enter into a purchase agreement with West Oxfordshire District Council (WODC) to purchase land, property and freehold at 21 Between Towns Road (Knights Court) will enable the development/ delivery of affordable homes to increase the supply available to help meet Oxford’s housing needs.

The option of not proceeding with Knights Court as a development opportunity would mean that the site does not realise its full potential to deliver affordable housing to help meet the 1,600 homes target across the 4-year MTFP. The current programme for Knights Court targets a project completion of end of 2027 – providing an opportunity to deliver 246 homes relatively quickly, compared with other larger pipeline sites.

The decision to proceed with any purchase or development will be supported by a development scheme appraisal/ financial modelling to ensure that the agreed financial parameters and requirements are met.

The financial appraisal for Knights Court has established a proposed HRA capital budget for scheme costs of £8.9 million. A budget virement from the “Properties purchased from OCHL” purchase line into a new scheme line is required to match the build programme across the four years from 2025/26 to 2028/29, approval for which was given by the Cabinet at its meeting on 17 September 2025.