That the Cabinet Member for Housing and Communities decides as follows:

1.    To approve the freehold purchase of the twelve (12) newly constructed affordable residential units to be constructed at the property known as The Bungalow, Sandy Lane, Oxford (OX4), for the sum of £2,820,000, and to be held in the Housing Revenue Account and provided as affordable housing at Social Rent tenure.

2.    To approve entering into all necessary agreements to facilitate the acquisition of the Property, including the purchase agreement, transfer deed, and any ancillary documents with the Seller (freehold owner). The acquisition comprises of 12 newly constructed affordable residential units, which will be managed through Oxford City Council’s Housing Revenue Account (HRA) and delivered as Social Rent tenures