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Southend to spend £4.3m on council housing

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  • by Colin Marrs
  • in 151 News
  • — 3 Jul, 2019

Southend on Sea Borough Council will buy properties in a bid to fund housing regeneration.

Councillors have agreed to spend £4.3m buying private homes for use as council housing.

The involves the creation of a revolving investment fund to deliver a pipeline of housing regeneration projects for the town.

It will include new build housing, potential acquisitions and leasing opportunities, such as a private sector leasing scheme along with identifying potential estate refurbishment sites.

The council is creating a capital budget in the HRA to fund the scheme including Right to Buy receipts.

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