Purpose

38 The Meads, an HRA property owned by LBB and managed by Barnet Homes, has been identified as having significant structural 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 September 2025, Cabinet approved the HRA Disposal Strategy for the selective disposal of HRA properties over the next five years from 2025 to 2030.  In August 2026, Barnet Homes Executive Management Team (EMT), and LBB Asset and Development Peer Review Group, approved the disposal of 38 The Meads in principle, subject to obtaining the relevant consents from the Council who own the properties. 

This paper seeks approval to proceed with the disposal either via the use of The Barnet Group estate agency ‘Bumblebee’ or at auction.