Decision details
Acquisition of Freehold and Leasehold Properties in The West Kensington and Gibbs Green Estates
PDF 55 KBDecision Maker: Strategic Director of the Economy Department
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
This report seeks the authority to purchase a property at its open market value as determined by an independent valuer.
Each individual purchase under Cabinet Decision on the “Acquisition of Freehold And Leasehold Properties In The West Kensington And Gibbs Green Estates” (dated 4th December 2017) requires a Delegated Authority Report to be approved by the Housing & Regeneration Service Lead Director in consultation with the Director of Finance and Resource (Housing), (now Strategic Director for Growth & Place and Director of Finance for Growth & Place).
Decision:
1. To authorise the acquisition of the leasehold of a property in W14.
2. To approve the expenditure of associated purchase costs as outlined in the financial comments.
Reasons for the decision:
To enable the council to purchase a property authorised by the Cabinet Decision “Acquisition of Freehold and Leasehold Properties in The West Kensington and Gibbs Green Estates” dated 4th of December 2017.
To continue the council’s commitment to buying homes on the estate where owners demonstrate an urgent need to sell for hardship or personal reasons.
Alternative options considered:
Option 1: Do nothing, not acquire the property
Option 2 (recommended option): Authorise the acquisition
Interests and Nature of Interests Declared:
None.
Publication date: 17/08/2018
Date of decision: 07/06/2018