The Cabinet - Shareholder Group of Wiltshire Council met on Tuesday 9 June 2026. The meeting's agenda included a review of the Stone Circle Housing Company and Stone Circle Development Company, focusing on their business plans and financial models. Discussions were scheduled to cover financial performance, potential acquisitions, and strategic reviews of the companies' operations.

Stone Circle Update

A significant portion of the meeting was dedicated to an update on Stone Circle activities. This included a review of the Stone Circle 2026/27 Business Plan and its revised financial model. The report pack indicated that the group was scheduled to consider a revised financial model for Stone Circle Housing Company, following a request for additional analysis of its long-term financial position and potential diversification. The modelling was expected to assume a proportion of homes would transfer to key worker tenancies on re-let.

The report pack also detailed discussions that were scheduled to take place regarding the financial aspects of Stone Circle. These included observations on the realism of purchase and rental prices, the level of bad debts, and the apportionment of running costs. The timeframes for reaching a breakeven point, the inclusion of Stone Circle overheads in data comparisons, and void levels were also listed for discussion. The report pack indicated that the number of properties detailed in appendix 2a of the report was expected to remain the same until March 2029, as approvals for further acquisitions had not been received.

The agenda also outlined that the group was scheduled to consider a review of options for the Stone Circle Housing Company and the Stone Circle Development Company, prepared by RedQuadrant. This review was intended to explore the current context and list a range of available options, including immediate operational improvements, widening objectives, diversifying the business model, and evaluating transformative options.

The report pack indicated that the following resolutions were recommended for the Stone Circle update:

• Noting the content of the report and the Stone Circle 2026/27 Business Plan: Revised Financial Model.
• Approving the proposed flats pilot as set out in the Stone Circle 2026/27 Business Plan: Revised Financial Model.
• Delegating to the Director of Legal & Governance to take all necessary steps to implement and approve the proposals set out in the Stone Circle 2026/27 Business Plan: Revised Financial Model.
• Approving the rationalisation of Stone Circle Housing's portfolio where appropriate.
• Approving the option for Stone Circle Development to charge a market rent for its properties.

Furthermore, the report pack indicated that the Shareholder Group was scheduled to note the content of the Stone Circle Housing Company – Review of Options Report and the Stone Circle Development Company – Review of Options Report. It was also indicated that the group would provide direction to Stone Circle regarding proposals for inclusion in the 2027/28 Business Plan, specifically concerning improvements to the operation of the Stone Circle Housing Company and widening its objectives and transforming its operations.

The reasons for these potential decisions, as outlined in the report pack, were to support the drive to reduce costs and improve void levels, and to improve the financial viability of schemes such as the nine units at Priestly Grove in Calne. The Shareholder Agreement between the Council and the Companies requires that certain decisions and reserved matters are taken by the Council in its capacity as shareholder, and that the Companies present their proposed business plans for approval.

Other Agenda Items

The meeting was also scheduled to include standard procedural items such as receiving apologies, confirming minutes of previous meetings (both Part I and Part II), and receiving declarations of interest. There was also an item for Leader's Announcements and a period for Public Participation and Questions from Members. An item concerning urgent items was also listed, as was the exclusion of the press and public for specific agenda items due to the likely disclosure of exempt information relating to financial or business affairs.