Monday 8 November 2021

Brent Council to purchase leasehold on 155 units in Alperton Bus Garage development at average of £280k per home


The Brent Cabinet this morning is set to approve purchase of a 50 year lease on 155 out of the 461 units in the  Telford Homes Alperton Bus Garage development on the corner of Ealing Road and Bridgewater Road:

To finance the purchase of this block, the Council will take a lease of 50 years from the  Asset Special Putchase Vehicle (ASPV), with rents set a current day social rents and indexed at CPI plus 1%. Upon completion of the 50-year lease, a reversionary 949-year lease will be granted a nil rent or peppercorn. 
The developer will grant the Council a 50-year lease with a 949 reversion at a peppercorn rent on completion of the contract for the 155 affordable homes. The developer will continue to insure the premises during the construction and until completion of the contract. 
Officers have been in discussion with the ASPV regarding the possibility of purchasing these homes. An offer has been on a purchase price of circa £48M via private treaty on a 50 year leasing arrangement, which means an average of £280K for each home (including a GLA grant).

The Cabinet Meeting can be watched on-line at 10am this morning HERE


Anonymous said...

The Cabinet don't ever come clean do they, what a self satified bunch of fools. The reports says Council homes, with rents set a current day social rents. Then in the meeting out comes the usual cover up phrase, yes, you've got it, affordable homes, and they don't say which rate do they, so we should expect the rents to be based on inflated private rents, minus, if we are lucky 20%. Alternately they could be Key Worker Housing and the rates ruduced to very low levels so that the Council can attract staff who can't afford to live in the Borough otherwise.

Also, and quite shockingly, yet more Council borrowng with little ability to pay it back. Just watch this Council go the way of Croydon when interest rates go up or the need for housing in Brent subsides due to the lack of Borough based employment.

We just have to comment on the amount of smarmy self praise that goes on at these cabinet meeting and the total lack of any challenge or real discussion. We take that back, McLennan was challenged on the quality of the development to be purchased - this is after she, and other cabinet members' car crash with Granville New Homes and its £18,000,000 cost to Brent residents. Do you believe that the Council's Procurment Stretegy can actually make sure the building won't be full of faults and not worth the purchase price. We are not convinced at all, poor Brent in so many ways.

David Walton said...

Alperton Bus Garage development with Brent purchasing 155 units (out of 461 units) at a cost of £48million on a 50 years lease to then become peppercorn rent. These 155 new council homes to be social rent, affordable, genuinely affordable- but what will the build condition and maintenance costs for these 461 unit towers be in 50 years time? Likely a towers 'situation', which usually becomes rapidly apparent within a few years in Brent.

What the Grenfell inflammable cladding and subsequent wider UK build quality "building crap" crisis has shown is that most speculator freeholders (many British Islands off-shored) and most builders will not and never will be government required to be tower product responsible to consumers. It's very much a cosy 'sold as seen' set-up like the selling of an old car.

Brent 'Situationism'; South Kilburn 45 public land hectares has many of these new enclosure 'situations' now where freeholders and builders do not have actual responsibility. A non responsibility major population growth zone social experiment, where growing numbers of families being contained are full lease purchasers, Help-to-Buy, affordable renters- 'sold as seen' abandoned and fully individually responsible in terms of their blocks 'situation' liability and costs. The same applies to flood protection, social, health, green infrastructure where new freeholder and builder non responsibility is the dominant ideology.

An extremely top-down exploitative, predatory and colonial situation in siloed zones is being Brent structured and with Brent/ UK taxpayers the second funding port of call for this mass of 'situations' unfolding, all Brent residents should be concerned.

Anonymous said...

155 council homes should be applauded whingers.

David Walton said...

Alperton Garage will be 28 storeys! Lets see, it could be a housing gem like the 60 genuine council family homes Malvern Road, South Kilburn (1970's) which are still resisting colonial clearances and have not had external major works for 43 years (apparently legal according to Brent), yet are still in good shape regardless of intense neglect.

How does Brent 'build back better' quality than these Malvern 60, which even have built –in flood defences as was required at that time by planners?

In contrast Wembley Matters report from the 10th Nov gives a helpful in depth update on Brent South Kilburn new builds which are real situations and unfortunately communicate as being co-ordinated, lucrative and required fail and fail better. "Its council housing (or maybe affordable housing), Anonymous, but not as we (Parker Morris) know it".