Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: June 11, 2025

Purpose: To approve in principle the potential acquisition of housing for social rent

Content: Reviewed the three acquisition opportunities outlined within section four of the report and approved that all due diligence and commercial discussions are progressed to establish the development feasibility and assess the financial viability for each site, with a view to including them in Phase 2 of the Greenwich Builds new council housing delivery programme.   Approved delegated authority to the Cabinet Member for Planning, Estate Renewal and Development to agree the formal inclusion of the three acquisition opportunities into Phase 2 of the Greenwich Builds programme, if the due diligence and viability assessment provides a positive outcome.  Formal inclusion will include a full site criteria assessment and appropriate budget allocation.   Noted that Cabinet, at its meeting of 17 February 2022, agreed the budget envelope of £397.32m for the delivery of a target of 1,000 new Council homes through direct delivery and acquisitions.  Budget agreed as part of the Cabinet Member formal inclusion will be allocated from this sum for each site.   Noted that further reports will be presented to Cabinet which will detail additional sites recommended for inclusion in the Greenwich Builds Phase 2 programme, and which will contribute towards the delivery of the 1,000 new Council homes target.