The Financial Times (p10) reports that Welwyn Hatfield DC plans to sell a quarter of its 11,200 council homes to he...
The Financial Times (p10) reports that Welwyn Hatfield DC plans to sell a quarter of its 11,200 council homes to help pay£49m damages awarded by the courts to Slough Estates property group.
The authority has sought permission from the department of the environment to use capital receipts from asset sales to pay Slough. It will also need a majority of council house tenants to approve the transfer of homes to housing associations.
The council told the paper it would have no choice but to sell assets or cuts services, and it is negotiating with the property company to reduce the damages.
Slough Estates won the award in the high court after a judge decided the council had secretly lifted planning restrictions on a rival shopping centre, the Galleria in Hatfield, damaging Slough's investment, says the paper.