Friday 10 November 2017

Brent to sell off surplus residential properties

Brent Cabinet on Monday LINK will be asked to approve plans to dispose of surplus Council property 'at the best value that could be currently obtained in the market. The disposals would generate capital receipts to support corporative objectives.'

Some of the properties will be disposed of to the Council's wholly owned company Invest for Brent (I4B). See LINK for background of Invest for Brent.

The property is varied:

8 Coniston Gardens. NW9 OBD - former 3 bedroomed school keeper's house for Oliver Goldsmith Primary School.Will be sold to I4B at market value for use in the privately rented sector (PRS) programme.

67 Woodheyes Road, NW10 9DE - terraced house compulsorily purchased by the Council's Empty Property Team last year.  Will be sold to I4B at market value under PRS scheme.

Property X (address not revealed to safeguard personal data of owner).  Will be sold via an arms-length transaction on the open market to realise funds for payment of the owner's residential care fees.

27 Claremont Road, W9 3DZ - ex mental health hostel handed back to Council as surplus to requirements by Adult Social Care in December 2015. Unsuccessfully marketed for conversion in 2016.  Cost of internal decoration and modernisation rendered many alternative options unviable. Recommended to take to market in its current un-refurbished condition.

3 Kent Road, Stantonbury, Milton Keynes, MK14 6BA - managed by Milton Keynes Council under historic arrangement with Brent.  To be considered for I4B programme in first instance, if not suitable to be sold on the open market for a capital receipt.

18 Alliance Close, HAO 2NG - flat managed by North West London NHS Foundation Trust. Handed back to Council as no longer fit for purpose for client group. Being considered or I4B programme and it not suitable will be sold on open market for capital receipt.

It would be useful to have some further information on how the capital receipts will be used.


Unknown said...

Perhaps they can use some of the revenue to fund Energy Solutions which will be sorely missed by a huge number of residents who without their help would be in dire straits.

Philip Grant said...

So Brent will lend money to its wholly-owned property investment company, I4B, to buy properties from the Council which could simply be let to families on its own housing waiting list?


Anonymous said...

Housing crisis? Anyone!

Anonymous said...

That sounds about right for Brent Council Philip.
We all know that the residents of Brent do not matter to the present's all about the autocracy making money for their mates in case things do not go their way in May.