Liverpool council set to offload £9m of property

Liverpool council set to offload £9m of property




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Liverpool council are contemplating putting property totalling £9 million onto the market to lessen the housing shortage.

The council own over 40 properties including parkland, a cemetery, and gate houses located predominately in the south of the city. If these properties are sold on, the housing shortage in the UK’s fourth largest city could be alleviated slightly.

The portfolio of property in question includes Sefton Park Lodge, Sudley Estate gatehouse and two properties at Reynolds Park in Woolton, which between them are worth £1.3 million.

According to the Liverpool Daily Post, a confidential report has been obtained which shows that some of the properties are valued at over £300,000. However, 70 per cent of these buildings are not in line with current legislation, so will require upgrading to meet the ‘decent homes standard’.

It has been estimated that modernising these properties to meet the necessary laws could cost up to £750,000.

Joe Anderson, Liverpool Council leader, told the Liverpool Daily Post: “We will be talking to the heritage people within the council and registered social landlords to see whether they will refurbish them.

“We don’t know really how much it’s going to cost to put them right. If we sell them, it’s a good deal for the council and it stops us having to find the money to put them right.

“But it’s better than leaving them to deteriorate as the previous administration did.”

The council have a number of options, one being to give the property to registered social landlords, which could generate £40 million, or sell the property outright to investors.

Cllr Richard Kemp, Liberal Democrat spokesman for neighbourhoods and chair of housing association PlusDane, told the Liverpool Daily Post: “If you sell at the moment then you’re selling at the bottom of the market, and that’s never a good idea unless you really have to.

“My view is any money brought in should be ring-fenced for housing. The ratio for borrowing for housing associations is if you have around £7 million you can borrow up to £40 million.

“Very substantial sums could be raised for new housing. I hope the council uses its imagination because there are good possibilities.

The properties would provide much-needed secure living conditions for many people in Liverpool, but at the moment the council are still exploring the options available so a final decision is yet to be made.

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