The Cabinet - Shareholder Group of Wiltshire Council met on Tuesday 9 June 2026. The meeting's agenda included discussions on the Stone Circle Housing Company and Stone Circle Development Company, focusing on their business plans, financial models, and strategic reviews.

Stone Circle Update

The meeting was scheduled to receive a report providing an update on the activities of Stone Circle. This included a review of the Stone Circle Housing Company and the Stone Circle Development Company.

The report pack indicated that the Shareholder Group considered a revised financial model for the Stone Circle 2026/27 Business Plan. This model included an assessment of potential acquisitions and long-term repayment assumptions. The report also detailed discussions and observations from the Shareholder Group regarding purchase and rental prices, bad debts, running costs, and the time to reach a breakeven point.

The report pack also outlined a review of options for the Stone Circle Housing Company and Stone Circle Development Company, prepared by RedQuadrant. This review explored the current context and presented a range of options, including immediate operational improvements, widening objectives, diversifying the business model, and evaluating transformative options. The report pack noted that Peter Dean, Chair of the Stone Circle Board, welcomed the report and highlighted that short-term issues would be addressed first, followed by longer-term proposals. Discussions also touched upon debt restructuring, the impact of interest rates, the future role of empty and temporary accommodation, and the potential for partnership working.

The report pack indicated that the Shareholder Group was recommended to:

• Note the content of the Stone Circle 2026/27 Business Plan and Revised Financial Model.
• Approve the proposed flats pilot.
• Delegate to the Director of Legal & Governance to implement and approve the proposals.
• Approve the rationalisation of Stone Circle Housing's portfolio.
• Approve the option for Stone Circle Development to charge a market rent for its properties.

Furthermore, the Shareholder Group was recommended to:

• Note the content of the Stone Circle Housing Company – Review of Options Report and the Stone Circle Development Company – Review of Options Report.
• Indicate to Stone Circle which proposals should be considered for inclusion in the 2027/28 Business Plan, specifically those to improve the operation of the Stone Circle Housing Company and to widen its objectives and transform its operation.

The reasons provided for these decisions in the report pack included the requirement for the Council, as shareholder, to approve business plans and reserved matters, and the aim to reduce costs and improve void levels through portfolio rationalisation. Allowing Stone Circle Development to charge a market rent was intended to improve the financial viability of the scheme at Priestley Grove.

The meeting was scheduled to take place in the Kennet Room at County Hall, Trowbridge, BA14 8JN. The attendees included Cllr Ian Thorn (Leader of the Council), Cllr Helen Belcher OBE (Cabinet Member for Economic Development, Regeneration and Assets), Cllr Adrian Foster (Cabinet Member for Strategic Planning, Development Management, and Housing), and Cllr Gavin Grant (Cabinet Member for Finance). Other councillors and officers were also present.

The agenda also included standard procedural items such as apologies, confirmation of minutes from previous meetings, declarations of interest, leader's announcements, and public participation. A portion of the meeting was scheduled to be held in private to discuss exempt information relating to the financial or business affairs of particular persons.