Purpose

This report seeks to obtain approval to completion the acquisition of 368 properties for use as Temporary Accommodation

Decision

Cabinet agreed the following amended recommendations:

• Approved the acquisition of the freehold and leasehold interests in three properties (A, D and E) outlined in the confidential appendix.
• Approved the re-profiling of the approved Capital programme to ensure sufficient resource is available within the year to purchase the proposed acquisitions.
• Delegated authority to the Cabinet Member for Finance and Council Reform, following consultation with the Executive Director of Finance and Resources, to take the decision on whether to acquire the freehold and leasehold interests in the properties B and C outlined in the confidential appendix, subject to satisfactory completion of further due diligence.
• Delegated authority to the Executive Director of Finance and Resources, following consultation with the Cabinet Member for Finance and Council Reform, to agree the terms of the purchase contracts, following due diligence, including agreement on the final price of each acquisition.

Reasons for Decision

The Council has a statutory obligation to provide housing for those in housing need. Purchasing units for temporary accommodation use helps the Council to meet increasing demand from homeless households by providing a ready supply of high-quality accommodation and provides a secure base for residents. By investing in these assets, the Council is also less exposed to shortages, fluctuations in rent costs in the private market and the use of hotel accommodation due to the current surge in demand.

Implementation Date: 24 December 2024