Issue details

Open Market Acquisition

The authority to acquire residential properties to accelerate the delivery of genuinely affordable housing in the borough, to meet the urgent need for affordable housing.



Decision type: Key

Reason Key: Expenditure/Income over £5m & policies or new income, reserves use, overspend over £300K;

Decision status: For Determination

Wards affected: (All Wards);

Notice of proposed decision first published: 08/05/2022

Reason for urgency:
To allow the council to consider and complete the acquisition of residential properties that are “on offer” to the council for a limited period of time, as well as those currently on the open market. It will also enable the council to maximise use of Right to Buy receipts and other time limited funding sources (such as GLA grant) for the acquisition of property.

Report access: Open;

Report Type: Key Decision;

Decision due: July 2024 by Leader of the Council

Lead member: Cabinet Member for the Economy

Lead director: Strategic Director of the Economy Department

Department: The Economy department

Contact: Mo Goudah Email: