Purpose

Decision:
Approve the sale of 7 Merrow Drive, Hemel Hempstead, via the open market.
Reasons:
1.This property, due to its location and type would command a higher-than-average market value (Acquisitions (Right to Buy: Buy Back) and Disposals Policy 2024 item 7.3).
2.The property is in need of major work to remove any 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 new roof, a new central heating system, rewiring, new kitchen, bathroom and major works to ensure H&S compliant.
3.This property was built in 1956 due to the age of the property and location is expected to command a high average market value if sold and DBC will be unable to recover the associated costs over the 30-year Business Plan (Acquisitions (Right to Buy: Buy Back) and Disposals Policy 2024 item 7.3).

Decision

To dispose of the HRA property on the open market due to impact on the HRA budget to repair the property to the councils empty homes standard.

Alternative options considered

Options Considered and reasons for rejection:
This property has an estimated valuation of £360,000-£375,000. It is a three-bedroom, semi-detached house.
Estimated costs required to bring it up to the lettable standard are £93,168.65 (based on 2025-2026), including new roof, a new kitchen, new bathroom, and external works.
If the Cardo % uplift is added this will take the costs to £96,429.55 this is based on the current pricing mechanism up to 1st July 2026.
The property is also an EPC rating of D and with the works undertaken may bring the property to a C rating.