Decision details

The council was offered the opportunity to purchase back 19 Connaught Road, Ipswich, IP1 5LG an ex-local authority property as it was still within the 10- year Option period post Right To Buy sale.

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. £110,000 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 19 Connaught Road, Ipswich, IP1 5LG for £110,000.

Reason:

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