Purpose

The property was originally approved in 2020 for disposal but then the process was placed on hold. With the new management changes within Property Services a new request is being submitted for approval for the disposal of this property.
Reasons:
1.Due to unauthorised tenant alterations to the property and the location of the property, to then consider selling property. The property due to its location would command a higher than average market value. (Acquisitions Right to Buy and Buy Back and Disposals policy 2024 Item 7.3).
2.The property will above standard void works. To complete Health and Safety rating system hazards or asbestos containing materials that require a high level of ongoing management in conjunction with extensive works to comply with Decent Homes provision i.e. installation of a gas central heating system, rewiring, new kitchen, bathroom, windows to meet the empty homes standard.
3.This property was built in 1938 due to the location is expected to command an average market value if sold and DBC will be able to relinquish responsibilities.
4.There has also been consideration for the property and surrounding land for development but this has been deemed as not suitable due to the location of the property.

Decision

Due to the extensive works required to dispose of the property

Alternative options considered

Option 1 -
This property has an estimated valuation of £475,000.
It is a 3 bedroom semi-detached in a rural location. Estimated costs required to bring it up to the lettable standard are £145,066.73, including a new kitchen, new bathroom, rewire, heating upgrade, removal of tenants DIY alternations and external garden works.
These costs have been calculated on the original approval information plus uplift agreements with Cardo Group per year.
Please note these costs do not include asbestos removals if this is required it is estimated to be a further £5,000.00