As at 17th April 2024 cabinet made the decision to use Retained Right to Buy Receipts for the provision of additional affordable housing into the Housing Revenue Account.

The council has the opportunity to purchase a block of 4 units (3 x one-bedroom-flats and 1 x studio apartment) situated at 45 Wytham Street, Oxford, OX1 4TR for a purchase price of £780,000. The properties will be allocated to the RRTBR 25/26 program to provide 4 more additional affordable housing units for the HRA to respond to the immediate housing need.

The decision maker will be Tom Hook, Deputy Chief Executive.

The Deputy Chief Executive decides as follows:

1.       To purchase of flats 1-4, 45 Wytham Street, Oxford, OX1 4TR for a total purchase price of £780,000 to be allocated to RRTBR 25/26 programme for general needs social rent.

In response the above, the decision has been made to use allocated funds of £780,000 to purchase flats 1-4, 45 Wytham Street, Oxford, OX1 4TR to be allocated to RRTBR 25/26 programme for general needs social rent and provide an additional four affordable units for the HRA.