Decision details

Councillor Gidney presented the report which considered a viability appraisal for Nar Valley Park Phase four, built using traditional building methods. The previous proposal allowed for the project to be built using Modular Homes units which was not now possible. The land was acquired from the Receiver of Morston Assets in December 2016, following Morston Assets going into receivership.

Assistant Director Companies and Housing Delivery, D Gagen explained that following discussions with the Portfolio Holder, it was agreed that the scheme should be progressed as a traditional build project, in line with the Cabinet and Council approval in 2018, that proposed that, should the ‘modular proposal become undeliverable the site should be delivered by traditional building methods’, but that a report be presented to Cabinet and Council for approval prior the construction phase of the development taking place.

The surplus generated by the proposed scheme exceeded the benchmark of traditional build costs in the 2018 report. However, it was less than the proposed Modular proposal which had been demonstrated as being undeliverable on this site.

The financial impact on the scheme was set out in the report should the Council agree to sell 50% of the units to West Norfolk Property Ltd at 90% of open market value. The ultimate purpose being to create a revenue stream for the Council.

Under standing order 34 Councillor Joyce suggested it may be an opportunity for the Council to resist climate change by building the properties more efficiently, and influencing the Local Plan Task Group to persuade others to do so.

Under standing order 34 Councillor Kemp indicated her support for the scheme and suggested green measures.

Councillor Lawrence commented that he was pleased the project was progressing and would provide a mix of tenure.  He thanked officers and members for this.

It was confirmed that the properties were being built in accordance with the agreement with Homes England, but some of the properties would have photovoltaics.  It was noted that future Council developed sites were being planned to deliver more eco friendly properties.  This was encouraged by Cabinet members. It was hoped to deliver homes within 18 months.  It was also noted that this area would not have been developed if the Council had not stepped in to do so.

RECOMMENDED:  1) That the scheme be progressed as a traditional build project, in line with the Cabinet and Council approval in 2018.

2) That this site be developed using the Major Housing contract with Lovell Partnerships Limited.

3) That the PRS units be sold to West Norfolk Property Ltd at 90% of open market value.

Reason for Decision

1. To develop this site using the Major Housing contract with Lovell Partnerships Limited.

2. To allow the scheme to be developed using traditional methods.

4. To include the tenure mix  shown in section 2.5 of this report.

5. To build properties for  West Norfolk Property Ltd to manage for the benefit of the residents  of the Borough.