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This document includes:
- All service and office properties occupied or controlled by us, both freehold and leasehold
- Any properties occupied or run under Private Finance Initiative contracts
- All other properties we own or use, such as hostels, laboratories, investment properties and depots
- Garages, unless these are rented as part of a housing tenancy agreement
- Surplus, sublet or vacant properties
- Undeveloped land
- Services or temporary offices where contractual or actual occupation exceeds three months
- All future commitments, for example under an agreement for lease, from when the contractual commitment is made.
Social Housing Asset Value
The Council is required to publish this information under the Local Government Transparency Code 2015 set out by the Department of Local Government (DCLG), now the Ministry of Housing, Communities and Local Government (MHCLG).
The guidance requires Councils to explain the difference between the tenanted sale value of dwellings within the Housing Revenue Account and their market sale value and to include assurance that the publication of this information is not intended to suggest that tenancies should end to realise the market value of properties. The market value is the Council’s estimate of the total sum that it would receive if all the dwellings were sold on the open market. The existing use value for social housing value (EUV-SH) is calculated on the basis of rents receivable on existing tenancies. These are less than the rent that would be obtainable on the open market, and the EUV-SH value is therefore lower than the market value. The difference between the two values therefore reflect the levels of rent at which properties may be let, which must remain affordable.
