Decision details

Enfranchisement of houses held on a lease by Lambeth Council

Decision Maker: Cabinet Member for Housing

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

The purpose of this report is to highlight the short unexpired terms left on the leases of 22 houses in the Council’s ownership and to suggest ways that these properties can be retained on a long term basis, using the provisions of the 1967 Leasehold Reform Act.

Retaining these properties could save the Council considerable rehousing costs in the near future and dilapidation costs to freeholders. It would also provide the Council with valuable long term assets which could be used for refurbishment or sale for maximum economic advantage. The retention of such properties, by increasing available stock, would also aid the Director of Housing with long term planning. Costs of acquiring the properties are given, as are the vacant possession values.

Decision:

1.         To begin acquiring the freeholds of 22 houses held by the Council on a lease by lease basis as expiry of the lease term approaches, at an estimated cost of £3.94m plus an additional £197,000 for associated legal costs.

 

Publication date: 10/01/2020

Date of decision: 20/01/2020

Effective from: 28/01/2020

Accompanying Documents: