That, following satisfactory completion of legal due diligence, the final property will be acquired, as identified in Exempt Appendix 1.

Completion of the legal due diligence process has concluded that the Council’s acquisition would represent good and marketable Title and as such, the home represents a good investment opportunity.

The project could be put on hold or cancelled.

This decision will be implemented on or after 31 October 2025, at the point satisfactory completion of all relevant due diligence.

The Cabinet on 14 July 2025, gave Officers delegated authority to acquire four homes to support the delivery of the Government’s Local Authority Housing Fund Round 3.  A record of Decision was published on 18 July 2025 in respect of the first three properties.

Recommendation 3 of the Cabinet Paper of 14 July also provided delegated authority to the Director of Finance, in consultation with the Cabinet Member for Housing and Finance to identify a further 4-bedroom home and to approve its purchase subject to the satisfactory completion of all necessary due diligence.

Recommendation 4 of the Cabinet Paper of 14 July also provided authority to the Head of Strategic Housing and Delivery, in consultation with the Cabinet Member for Housing and Finance to agree and finalise the terms to acquire all the homes and procure the necessary support services to facilitate the acquisitions, including any necessary legal and financial arrangements. 

Officers have identified the remaining property and are seeking to exchange and complete on the purchase, and enable its refurbishment, in line with the requirements of the grant funding.  This paper therefore records the delegation exercised by the Director of Finance, in this regard.

None