Decision details

The council was offered the opportunity to purchase 2 Maidenhall Green Ipswich, an ex-local authority property. This was a voluntary buy back.

A full inspection of the property was carried out and Officers considered comparable evidence to form an opinion of Market Value. A viability assessment was subsequently completed, which was considered

satisfactory by Officers.

The purchase price negotiated and agreed of £240,000 is considered to be the Market Value for the property.

The Corporate Plan sets out objectives for the Council to increase its Social Housing stock. Priority 5 – Quality Homes for All sets out that the officers will seek out new Council homes by identifying sites and opportunities, such as this.

To purchase 2 Maidenhall Green Ipswich for £240,000.

Reason:

To acquire property for social housing, in accordance with Priority 5 of the Ipswich Corporate Plan.