Decision details

The Director of Neighbourhoods and Housing submitted a report on a proposal to grant a long lease at less than best consideration for 56 three bedroomed flats at Shay Street and Holborn Terrace to Connect Housing Association, for the purpose of refurbishing and improving the buildings for accommodation for mature students with families.

The report identified the benefits to be brought by the schemes as being preferable to the option of marketing without restrictions.

RESOLVED – That the principle of a disposal to Connect at less than best consideration be approved, subject to obtaining the Secretary of State’s consent and subject to approval by the Director of Development of the terms of the lease and a reasonable rental level to be payable during the term of the lease, having regard to the level of social rents receivable and costs of refurbishment, subsequent maintenance, management and other outgoings.