Purpose

To allow the timely disposal of the two
Constable Road sites to Lockleaze Loves Homes/LNT for the delivery
of affordable housing to benefit the local community.

The Community Led Housing Land Disposal Policy, adopted by Cabinet
in February 2020, authorises the Council to dispose of selected
sites for less than market value for development of Community-led
affordable housing. The policy identified the site at 26 – 32
Constable Road and gave delegated authority to the Executive
Director for Growth and Regeneration, in conjunction with Director
- Legal and Democratic Services and Deputy Mayor – Finance,
Governance and Performance for the sale of the site. It was also
agreed by Cabinet that sites such as 14-16 Constable Road, with the
capacity to deliver between 3 -10 homes, identified as suitable for
community-led housing, could be disposed of in accordance with the
CLH LDP with Executive Director approval.

Following a transparent bidding process on ProContract the decision
was taken to approve preferred bidder status to LNT for the parcels
at 14 – 16 Constable Road and 26 - 32 Constable Road and to
dispose of the two parcels as one site, subject to satisfactory
planning consent. An OED was published in December 2020. LNT have
planning approval across both parcels of land for 19 affordable
homes (11 units at 26-32 Constable Road and 8 units at 14-16
Constable Road). The site will be disposed of to LLH/LNT in one
transaction for the sum of £1000.

It has been agreed by the Executive Director that the area of land
to be included for disposal at 26 – 32 Constable Road be
extended by a small amount to allow implementation of the planning
application

Content

To facilitate the disposal of the site that
comprises 2 parcels of Land at Constable Road to Lockleaze Loves
Homes, a subsidiary of Lockleaze Neighbourhood Trust (LNT), in line
with the Community Led Housing Land Disposal Policy (CLH LDP), it
has been agreed that the site will be appropriated from the Housing
Revenue Account (HRA) to the General Fund. This will be enabled by
an appropriation of two sites of equivalent value from the General
Fund to the HRA. As follows:

4-16 and 26 – 32 Constable Road. Valuation £500,000
(HRA) appropriated to General Fund.

The following 2 assets appropriated from the General Fund to the
HRA in return:
Lacey House Lacey Road and Broomhill School House.

The value of land transferring to the HRA is £50k higher than
the value transferring to the General Fund and therefore and in
accordance with legislation, £50k of notional debt will
transfer from the General Fund to HRA.

The appropriation delivers 5 new affordable housing units as an
asset to the HRA and the proposed land swap can deliver reduced
annual subsidy loss of £78,620 once the units are
operational.