Issue - meetings

RESOLVED that the sale of 17 and 19 Cotton Street, Bolsover, be approved.

Executive considered a detailed report, presented by the Portfolio Holder for Housing, which sought Members’ approval to sell 17 and 19 Cotton Street, Bolsover, by way of auction.

The two properties were of limestone construction under pitched pantile roofs. They were thought to have been built in the late 17^th century with works carried out in 1762 and 1968.

These were general fund properties which had recently had some improvement works carried out, however, the properties were suffering from damp, needed significant investment to be made lettable, and given the age and conservation requirements, were likely to be an ongoing financial burden to the Council with little return.

The Council’s Housing Stock Management Group had recommended disposal of the properties which the Council’s Assessment Management Group had considered and agreed with.

The Council’s Valuer recommended that the guide price for 17 and 19 Cotton Street should be £60,000 and £70,000 respectively, with a reserve price to be as recommended by the Valuer.

Moved by Councillor Sandra Peake and seconded by Councillor Duncan McGregor

RESOLVED that the sale of 17 and 19 Cotton Street Bolsover by auction be approved.

Reasons for Recommendation

Significant investment was required to raise the properties to a lettable standard and given age and conservation requirements, were likely to be an ongoing financial burden to the Council with negligible return.

Alternative Options and Reasons for Rejection

Not to sell 17 and 19 Cotton Street, Bolsover. This was rejected due to the significant investment required to make the properties lettable.

The Council could undertake extensive refurbishment works to the properties to raise them to a lettable standard. However, due to the age and type, further investment would be likely in a relatively short period of time and they may not be suitable to longer term tenancy.