Acquisition of four properties to deliver Local Authority Housing Fund Round 3

That, following satisfactory completion of legal due
diligence, the final property will be acquired, as
identified in Exempt Appendix 1.

Completion of the
legal due diligence process has concluded that the Council’s
acquisition would represent good and marketable Title and as such,
the home represents a good investment opportunity.

The
project could be put on hold or cancelled.

This decision will be
implemented on or after 31 October 2025, at the point satisfactory
completion of all relevant due diligence.

The Cabinet on 14 July
2025, gave Officers delegated authority to acquire four homes to
support the delivery of the Government’s Local Authority
Housing Fund Round 3.  A record of
Decision was published on 18 July 2025 in respect of the first
three properties.

Recommendation 3 of
the Cabinet Paper of 14 July also provided delegated authority to
the Director of Finance, in consultation with the Cabinet Member
for Housing and Finance to identify a further 4-bedroom home and to
approve its purchase subject to the satisfactory completion of all
necessary due diligence.

Recommendation 4 of
the Cabinet Paper of 14 July also provided authority to the Head of
Strategic Housing and Delivery, in consultation with the Cabinet
Member for Housing and Finance to agree and finalise the terms to
acquire all the homes and procure the necessary support services to
facilitate the acquisitions, including any necessary legal and
financial arrangements. 

Officers have
identified the remaining property and are seeking to exchange and
complete on the purchase, and enable its refurbishment, in line
with the requirements of the grant funding.  This paper therefore records the delegation
exercised by the Director of Finance, in this regard.