Decision

1. Cabinet approved the acquisition of 4 properties (52 bed spaces) from Shepherd’s Bush Housing Association for the total purchase price of £8.72m and to note the individual prices below:

Site Ward

Purchase Price

Hounslow West                                 

£507,048.90

Chiswick Gunnersbury                     

£2,991,654.80

Chiswick Homefields                     

£1,739,428.69

Chiswick Gunnersbury                      

£3,484,793.89

1. Cabinet delegated authority to Executive Director of Regeneration and Housing in consultation with the Lead Member for Regeneration and Development to enter into the necessary contractual agreements to finalise and deliver the acquisition of the properties and to undertake necessary works of repair and improvement, to determine the rents and services charges to be applied for the remainder of the 2023/24 financial year and approve the budget virements necessary to reflect the acquisition of these properties in the 2023/24 HRA revenue budget.
2. Cabinet delegated authority to the Executive Director of Regeneration and Housing in consultation with the Lead Member for Regeneration and Development to finalise the long-term management and maintenance of the properties outlined above.