Issue - meetings

To receive an update on the Housing Investment Programme.

The Cabinet Member: Place (The Economy & Neighbourhood Services) presented an update on the Housing Investment Programme together with an update on the performance of the property and tenancy management service and the financial outturn for Nuplace during 2022/23.

To date, Nuplace housing portfolio comprised 485 homes with a further 359 planned or due to be delivered bringing the total portfolio to 844 homes.  Of these, 123 were affordable and available at discounted rents.  A further 399 affordable dwellings were being delivered by housing association partners. Work at Southwater Way in relation to the low carbon town centre scheme had been completed.  A further 99 homes were under development across three sites including 18 accessible and adaptable dwellings and 18 low carbon homes.  The scheme at The Gower was bringing a Grade 2 listed building back into use.  Planning Permission had been secured for a further 155 new homes across the Borough with the Nuplace portfolio offering a broad range of property types and sizes.

There were approximately 1,350 people living in Nuplace properties across ten sites.  Following a recent survey 95% of tenants would recommend Nuplace to family and friends. 

The Social Value Plan contributed towards employment, training, apprenticeships, supply chain development and the delivery of a range of community projects on a site-by-site basis.

In addition to creating good quality housing for rent, and driving an improvement in housing standards within the private rental market, a cumulative net incremental income of £9.7m to the Council had been achieved up to 2022/23.  Benefits from Council Tax and the New Homes Bonus had generated an additional income of £4m up to 31 March 2023.  The capital value of the Nuplace asset portfolio was £86.7m; an increase of 28%.

Cabinet Members welcomed the report which brought brownfield sites and old housing stock back into use.  Through partnership working with other housing providers and using the TWC Homes Model this set a benchmark for affordable social rents and helped to combat rogue and absent landlords.  It also improved local health, inequalities and climate action and gave local resident a sustainable home for life.

The Leader of the Liberal Democrat Group welcomed the dwellings being of a higher standard than the national guidelines, environmentally friendly and keeping the standards high for others to match as well as the commercial success of Nuplace. 

The Deputy Leader of the Conservative Group welcomed the principal of Nuplace and that it was leading the way and asked that a partnership approach take place with the private sector.

RESOLVED that:

a)    the progress made in relation to the delivery of the Housing Investment Programme be noted; and

b)   the financial performance for the year 2022/23 and the impact of Nuplace’s operations on the Council’s budget position be noted.