Purpose

1 Fulbeck Walk, Edgware
Middlesex, HA8 8FJ, is an HRA property owned by LBB and managed by
Barnet Homes.
It was identified as having
significant structural issues, because of ongoing tree related
subsidence issues. Due to the cost of remediating the property, an
option appraisal was undertaken. The appraisal concluded that due
to the structural defects, the cost of repairs vs rental return
that could be achieved, it was more cost effective to dispose of
it.
The insurance cover on this
property does not cover remediation for damage by
subsidence.
In April 2025, Barnet Homes
Executive Management Team (EMT), and LBB Asset and Development Peer
Review Group, approved the disposal of the property in principle,
subject to obtaining the relevant consents from the Council who own
the properties.
 
In September 2025, the Disposal
strategy for Barnet Homes LBB stock was presented to and ratified
by Cabinet.
This paper seeks approval to
proceed with the disposal either via the use of The Barnet Group
estate agency ‘Bumblebee’ or at auction.