Issue - meetings

To consider a joint report of the Executive Councillors (Support & Governance) and (Thriving Economy)

Royley Carr is a Council owned residential building comprising 14 individual units of accommodation. It is currently leased to the Equity Housing Group (EHG) under a lease which has reached the end of its contractual term and EHG remain in occupation. EHG have approached the Council to acquire the freehold to the site in order that it can be redeveloped with traditional housing. The proposal is supported by the Councils Strategic Housing Department.

The offer made by EHG to acquire the site could be seen as being at an undervalue but as the report to the Executive identifies there are costs associated with the Council either accepting the property back and retaining its existing use or alternatively disposing of it on the open market.

(Note: the report contains information ‘not for publication’ is its appendix that has been circulated to executive councillors only).

The Executive is requested to give consideration to the disposal of this asset at an undervalue to the EHG at the sum offered for the development outlined in the report upon reliance of the general Consents in Section 25 of the Local Government Act 1988.

Officer contact: Murray Carr, 0161 474 3019, murray.carr@stockport.gov.uk

The Executive Councillor (Thriving Economy) submitted a report (copies of which had been circulated) inviting the Executive to consider a proposal to dispose of a Council owned two storey residential building (containing a mixture of flats and bedsits) at Royley Carr, Bredbury to the Equity Housing Group (EHG) that currently leased the property. EHG had sought to acquire the freehold to the site in order to demolish the current building and redevelop the site with 8 traditional 2 bed dwelling houses, for which they had received funding from the Homes and Communities Agency. EHG were seeking to acquire the site for sum below its market value.

(NOTE: the report contained information in its appendix that was ‘not for publication’ that had been circulated to executive councillors only)

RESOLVED – That approval be given to the disposal of Royley Carr, Bredbury, at an undervalue to the Equity Housing Group (option A in the report) for the sum offered for the development as outlined in the report upon reliance of the general Consents in Section 25 of the Local Government Act 1988.