Transfer by sale of land at the former Lucy Faithfull House site on Speedwell Street Oxford to Oxford City Housing (Development) Limited (OCH(D)L) and the purchase of the completed development by Oxford City Council from OCH(D)L
Decision Maker: Director of Housing
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.
1. To authorise the transfer by sale of land at the former Lucy Faithfull House site on Speedwell Street to Oxford City Housing (Development) Limited for a consideration of £1
2. To authorise the transfer by purchase of the land and 26 affordable housing units from Oxford City Housing (Development) Limited by the Council’s Housing Revenue Account (HRA) for a consideration of £10,250,000 in total.
Reasons for the decision:
To develop new affordable housing with a range of tenures. OCH(D)L has obtained planning permission to deliver 36 homes for families in Oxford (19/03106/FUL from Oxford City Council) on land at the former Lucy Faithfull House site on Speedwell Street.
The viability appraisals for the transfer of the land and housing units to the HRA at a purchase price of £10,250,000 are within parameters set for the HRA.
Alternative options considered:
Not to transfer the properties would represent a missed opportunity to deliver affordable housing and support the delivery of the OCHL business plan.
Signed off by senior officers:
Decision taken by Paul Leo, Director of Housing
Decision taken in consultation with Nigel Kennedy, Head of Financial Services, and Susan Sale, Head of Law and Governance.
Publication date: 27/07/2021
Date of decision: 27/07/2021
Effective from: 28/07/2021