Decision details

The decision to dispose of 11 Lincoln Street has been carried out in accordance with the approved HRA Acquisitions and Disposals Policy, to support purchase of a more suitable replacement property for social housing provision.
The HRA Acquisitions and Disposals Policy was approved by the Council’s Executive on 18th July 2024. The policy aims to:
“maximise the standard and cost effectiveness of the council’s landlord services by prioritising high quality homes at genuinely affordable rents despite the challenges of budget pressures. The policy establishes that receipts from disposals with be reinvested through expansion of HRA stock or within the existing stock.” (p1)
This follows on from the HRA Asset Management Plan that was agreed by the Executive in December 2022 establishing principles around disposal of a small number of HRA homes where appropriate.
The Retrofit Action Plan also highlights the impact on council tenants at risk of fuel poverty which is exacerbated by living in properties with poor thermal efficiency, for example due to uninsulated solid wall construction. Residents of other tenures have significant higher average incomes so would be at reduced fuel poverty risk in a lower efficiency property.
11 Lincoln Street met the criteria of the Acquisitions and Disposal policy and using the appropriate calculation methodology, sale of this property and purchase of an alternative, more suitable social housing property is considered a viable option to meet the council’s objectives of providing good quality, low carbon homes that are affordable to heat for tenants and for residents in housing need.

Recommended: Option 1: The property is sold on the open market and a more thermally efficient replacement property purchased
Option 2: The property is retained within the Housing Revenue Account and used as part of the general social housing stock
Option 3: The council retains the property after having identified another service use either in-house or by an external partner, eg NHS
Option 4: The property is transferred (at market value) to the General Fund and then used to generate revenue

Option 2: The property is retained within the Housing Revenue Account and used as part of the general social housing stock
Option 3: The council retains the property after having identified another service use either in-house or by an external partner, eg NHS
Option 4: The property is transferred (at market value) to the General Fund and then used to generate revenue