Ramsey Commissioners are seeking to borrow £895,000 repayable over 30 years to buy a terrace of six newly-built two-bedroom houses in Shipyard Road, to add to their housing stock.
The terrace forms part of a development by Haven Homes Ltd on the former gas works site.
The development as a whole comprises 30 properties. The six units in question fulfilled the developers’ obligation to provide affordable housing; but as there has been no demand for these first-time buyer properties they have been offered for sale to the commissioners.
The proposed purchase price is £147,000 per unit – a total of £882,000 which, together with legal fees, advertising and sundry expenses, brings the total borrowing to £895,000.
The board also agreed to look constructively at the purchase of other similar properties in any future developments offering affordable housing.
Mr Hooper told the monthly board meeting that he wished it to be placed on record that he had ‘serious misgivings’ about the project.
He said: ‘I think there is something fundamentally wrong in this. It is still more economic for people to purchase than to rent.
Sylvia Beattie made the point that no potential first-time buyers had shown interest in buying these properties.
Lead member for housing, Tony Harmer, responded that he had ‘serious misgivings’ that Mr Hooper, as a member of the Housing Allocation committee, was against the commissioners acquiring new stock, especially when there was a shortage of properties of this size.
As featured by IOM Today
