To approve the acquisition of a limited number of properties to enable the council to help meet some strategic priorities.

The council faces challenges in finding accommodation to meet the needs of some groups of vulnerable young people. Social housing providers have to prioritise commercial considerations and are unwilling to take the risk of letting homes to certain groups.  Therefore, the council must find alternative accommodation solutions which are economic and sustainable in a limited range of circumstances. These include accommodating care leavers and other young people with complex needs, such as chaotic and high risk lifestyles and self harm.

There are several other priority groups and vulnerable people who have accommodation needs and these might be best met through acquisition of property.  These would require further analysis and business case, as part of governance. Capital funding for housing or accommodation will be used only where the council has significant statutory duties and other means of discharging them have been exhausted. In some instances, investment may also provide economic benefits.

It is proposed to purchase properties from the open market and make appropriate arrangements for housing management, usage of rental income and management of risk. It is envisaged that a modest number of properties of different types and sizes would be acquired over the period to 2022.