New Investment Boost for Telford & Wrekin Housing
Telford & Wrekin Council is providing a multi-million pound housing investment boost by investing significantly in the purchase and refurbishment of existing properties in the borough ensuring there are more reliable homes available from a trusted landlord.
The properties will be bought, refurbished and rented out by Nuplace Ltd, the council’s wholly owned housing company, under a new sub brand – Telford & Wrekin Homes.
The plans were presented to Telford & Wrekin Council’s Cabinet on 10 June and links directly to the council’s housing strategy which seeks to ensure everyone has access to safe and appropriate housing, enabling them to live independently and maximise their potential.
The new programme represents capital investment of £13m and includes the purchase of around 100 existing homes for a mixture of private and affordable rent to stand alongside the hugely successful Nuplace programme of build to rent.
Telford & Wrekin Homes aims to invest in and protect existing properties through high quality renovations. It will address issues of poor housing in communities by raising standards in the private rented sector across the borough and provide a “home for life” for tenants with a focus on providing housing options for a range of priority groups, including care leavers and people providing low level care, key workers, young people and veterans.
Properties will not be limited to specific areas of the borough and include locations such as Coalbrookdale, Dawley, Donnington, Hadley, Ketley, Trench, Wellington and Wrockwardine Wood.
Councillor Shaun Davies, Leader of Telford & Wrekin Council said: “It is our priority to ensure every resident in Telford and Wrekin is able to access a decent home and this is a vital part of our vision to protect, care and invest to create a better borough.
“Telford & Wrekin Homes is all about making the best of the borough’s existing homes by reducing the number of empty and unused properties and improving those we already have to raise standards in the rented sector.
“We know that renting a property is increasingly the most solution for more and more people and we want to make sure that there is a supply of quality homes from a trusted landlord for local people who need them.”
Councillor David Wright, Telford & Wrekin Council’s cabinet member for housing, said:
“This is an ambitious initiative and will be life changing for many of our residents, ensuring there are good quality homes for their families and themselves.
“While new housing is important, 80% of the homes that we will have in 20 years’ time are here now. So we need to make sure the homes we already have are as good as the best of the new ones that are being built today.
“Telford & Wrekin Homes will make this happen through the purchase and refurbishment of existing properties from a range of sources.
“The council’s wholly owned housing company Nuplace already has an excellent reputation across the borough in raising standards in the private rented sector with over 1,000 people currently living in Nuplace homes. 97% of our tenants told us in the last tenant survey that they would recommend Nuplace to their friends and family. Telford & Wrekin Homes will provide more ‘homes for life’ for our residents giving them the same confidence in the quality of the property and tenancy management services.”