Acquisition of 45 dwellings at Sandford Road, Littlemore, from Abbey Homes.
Decision Maker: Chief Executive
Is Key decision?: Yes
Is subject to call in?: Yes
Cabinet, at its meeting on 22 January 2020, delegated authority to the Chief Executive, in consultation with the Cabinet Members for Finance and Asset Management, and Affordable Housing, to approve any property or development purchases over £500,000 for affordable housing, within the project approval granted at that meeting.
To acquire 45 dwellings at Sandford Road, Littlemore, from Abbey Homes.
To acquire the 45 social rented dwellings - built as part of the s106 provision from Abbey Homes
The acquisition is on a golden brick basis with the Council acquiring the land and simultaneously entering into a build agreement with the developer for the construction.
The agreements and contracts have been extensively negotiated to ensure the best possible terms have been sought for the Council. External legal advice was secured to manage this process in consultation with the Councils representative and project manager.
An independent employer’s agent and clerk of works have been employed to monitor and manage the contract whilst also ensuring the works are completed to the standards required and based on the Councils requirements. The scope of their contract is until the completion of all dwellings and handover to the Council.
Alternative options considered:
To not complete the acquisition. This is not preferred as the purchase is considered to represent excellent value for the Council and provides a strong investment and revenue stream against initial expenditure, whilst also providing much needed affordable housing on a prominent development within Oxford.
Signed off by senior officers:
Chief Executive 08 June 2020.
Publication date: 15/06/2020
Date of decision: 08/06/2020
Effective from: 18/06/2020