URL: https://democracy.thanet.gov.uk/ieDecisionDetails.aspx?ID=5518

Decision Maker: Cabinet

Outcome:

Is Key Decision?: Yes

Is Callable In?: Yes

Purpose: This report outlined the retention or disposal options for four HRA assets, including one property, one car park and two freeholds. Following officer reviews, it was proposed that disposing of all four assets provides the best value for money for the council.

Content: This report outlined the retention or disposal options for four HRA assets, including one property, one car park and two freeholds. Following officer reviews, it was proposed that disposing of all four assets provides the best value for money for the council. Cabinet agreed that:   1.  The Council owned property 20 La Belle Alliance Square, CT11 8HZ, freehold interest at The Leys, Manston, CT12 5AS, The freehold interest at 70-76 Canterbury Road, Birchington, CT7 9BB and the car park on Dane Hill Row, Margate, CT9 1QW are disposed of through auction;   2.  The proceeds of sale are reinvested in the Council’s Accelerated Housing Delivery Programme as agreed by the Council in July 2023. Disposing of the assets provides best value for the council. All four assets either received minimal income or required extensive repairs and refurbishment. Disposing generates capital receipts for investment in new build properties for the council’s HRA. To retain the HRA assets would place the council under significant cost burdens now and in the future. Officers' studies had looked into alternative options but disposing of the assets was assessed to be the most viable option.

Date of Decision: February 16, 2026