Transfer by sale of land at Elsfield Hall and Former 2-16 Cumberlege Close to Oxford City Housing (Development) Limited (OCH(D)L).
Decision Maker: Assistant Chief Executive
Decision status: Recommendations approved
Is Key decision?: Yes
Is subject to call in?: Yes
To authorise the transfer by purchase by Oxford City Council of the extensively refurbished 3 bedroom house, new build 3 and 5 bedroom house delivered through the OCHDL Extensions programme. Contributing to the Councils overall Affordable Housing provision.
To authorise the transfer by sale of the land at Elsfield Hall and Former 2-16 Cumberlege Close to Oxford City Housing (Development) Limited for a consideration of £1,135,000 in total.
As part of Oxford City Council’s CEB decision on 17 March 2016 to establish Oxford City Housing (Investment) Limited it was agreed that the Council would develop new affordable housing with a range of tenures. Further reports have consistently identified the sites at Elsfield Hall and Former 2-16 Cumberlege Close as potential development schemes.
OCH(D)L has carried out extensive site investigations and design work and has obtained planning permissions to deliver 35 homes across two linked sites (18/03384/FUL, 18/03385/FUL). Due to a restrictive covenant, it was necessary to link these two applications in order to make building out the site at Cumberlege Close viable.
A joint valuation exercise has been carried out in April 2019 by Carter Jonas who have confirmed that jointly the properties should be valued at £1,135,000.
Alternative options considered:
Not to transfer the properties would represent a missed opportunity to deliver affordable housing.
Signed off by senior officers:
Caroline Green, Assistant Chief Executive
This decision was taken in consultation with the Head of Finance and the Head of Law and Governance.
Publication date: 22/07/2020
Date of decision: 19/09/2019
Effective from: 25/07/2020