EXAMPLE FROM THE NEIGHBOURHOOD Delivery of permissioned serviced - - PowerPoint PPT Presentation

Laurence Castle Self / Custom Build Regional Manager

EXAMPLE FROM THE NEIGHBOURHOOD

Delivery of permissioned serviced building plots in South Cambridgeshire – the Vanguard experience

WAVE PICTURE w/surfer or nautical

Year One Progress

• We have successfully identified over 100 council owned plots of land through a

land audit of our council house stock holdings that could be self-build plots in our District (subject to planning)

• We intend to clear the plots and gain outline planning permission for residential
• n the plots and sell on achieving best value
• The capital receipt from the sales net of costs will be used directly to help fund

new build affordable Council Homes across our District

• These plots are being split into years 1-4 and we are bringing the first 10 plots

through planning now - with 2 sites being marketed currently and 4 further plots gaining outline planning on 1st November 2017

More About Money

• We aim to gain a net receipt of circa £150-£190 per plot sold.
• We can match fund this with our council Right to Buy receipts @ 30%

giving us a total spend potential from each plot sold within a range of around £195-£255k

• Assuming all on costs, and either S106 free serviced land or exception site

land value we aim to build 2 new council affordable homes for each self- build plot sold on average

• The additional funds coming through this self-build sale programme will add

to the existing modest capital development programme and as a result South Cambs DC aims to build around 50 new council homes per year

Timings From site identification to sale we estimate to be around 48 weeks. Legal Good detailed legal work essential to identify easements, covenants and boundary issues - with a pragmatic flexible approach to solve issues being essential. Policies & procedures We rely upon our HRA Asset Sustainability Policy (Disposals and Acquisitions

• Supplementary document

to the Asset Management Strategy) as the benchmark for all disposals of assets. Ensure you have a similar robust policy in place. Other requirements Council Standing Orders require Cabinet or full Council approval if selling land in excess of a £1m cumulative total - we are looking at the most efficient way of dealing with this. Political & Local Resident support We have found that involving Council Members early can be extremely helpful in gaining local support. Governance To ensure proper transparency we gain a Decision Notice (approved by our Portfolio Holder for Housing - Cabinet Member) prior to marketing based upon Valuers estimated value - then an additional Decision Notice to approve the actual sale price. Meeting the Register We market initially to our Register but to ensure best value and a best value certification we are also obliged to market to general public.

Working with developers

• We continue to work with developers – both large & small
• We are doing this on a regional basis to ensure all opportunities are captured
• We are looking at the supply chain regionally to help promote this in our District

Spruce Goose w/tagline

Howard Hughes's H-4 (the ‘Spruce Goose’) flew only one time, in 1947.

Thank you for listening

Laurence Castle laurence.castle@scambs.gov.uk 01954 713419

www.scambs.gov.uk