URL: https://wokingham.moderngov.co.uk/ieDecisionDetails.aspx?ID=1560

Decision Maker: Executive

Outcome:

Is Key Decision?: Yes

Is Callable In?: Yes

Purpose: To seek Executive approval for the transfer of Seymour House from the General Fund (GF) to the Housing Revenue Account (HRA) for the redevelopment of the property to deliver 11 affordable specialist and general needs homes. Executive approval is required for the transfer of the asset given the value of the asset (as per 12.1.5.9 of the Constitution) and the funding arrangements, including the use of Section 106 monies. The report seeks delegation to the Executive Director for Children, Adults and Health and Director of Resources and Assets, in consultation with the Leader of the Council to oversee the delivery of the project.

Content: RESOLVED that Executive:   1. Approved the transfer of Seymour House, The Courtyard, Denmark Street, Wokingham, RG40 2AZ from the General Fund to the Housing Revenue Account (HRA) at the sum of £690,000 (based on its existing use valuation) for the redevelopment of the property to provide 11 new affordable Specialist Homes.   2. Approved the capital budget and funding up to the value of £3,600,000 into the HRA for the scheme, including the use of S106 commuted sum monies up to the value of £880,000. The remaining funding will be a mixture of Homes England grant and HRA borrowing (funded from rental income). In the event Homes England grant is not secured, delegate to the Director of Resources and Assets, in consultation with the Executive Member for Finance to seek additional funding options to continue with the delivery of the project.     3. Delegated to the Executive Director for Children, Adults and Health and the Director of Resources and Assets, in consultation with the Leader of the Council, to complete the delivery of Specialist Accommodation at Seymour House, including achieving vacant possession, the necessary planning approvals and procurement and appointment of design services and contractors to complete the work.

Date of Decision: March 19, 2026