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To buy back 10 New Street. Grassmoor which was
sold to the current owner through the right to buy scheme. The
independent RICS valuation is £110,000 and the property will
be purchased at the valuation price.

Reasons for the decision

The Council’s Housing Needs assessment
showed from the waiting list data, bidding trends, projected
population, that there is a housing need and demand for 2 bedroom
social housing properties in the ward.

Purchasing a 2 bedroom property would help to alleviate housing
need and also increase the Council’s housing stock to benefit
the district.

The property is in a block of flats where the Council own the
majority of the other properties.

Confirmation from the Council’s Finance team has confirmed
that there are sufficient funds, to purchase this property.

Alternative options considered

Not to progress the purchase of the property
has been rejected.

This will not support the local social housing need if not
purchased.