Purpose

Decision made and reasons:
Decision:
Approve the sale of: 14 Two Waters Road, 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 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. rewire, heating upgrade and void repairs. The main cost of the works to be undertaken is the underpinning a formal quote has not been provided but the repair estimate is based on previous properties for similar type of underpinning.
3.This property, was built in 1878 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

This property has an estimated valuation of £275,000
It is a two-bedroom terraced house. Estimated costs required to bring it up to the lettable standard are estimated £53,992.32.
The age of the property is pre-war and due costs to bring the property to a lettable standard will have an impact on the HRA budget.

Alternative options considered

Option 1 - To disposal of the property as detailed.