Northampton Borough Council bids to buy new apartment block

A block of 44 apartments looks set to be purchased by Northampton Borough Council so it can deliver a number of new ‘affordable’ homes in time for next spring.
By James Averill
Published 9th Dec 2020, 15:32 BST
Updated 9th Dec 2020, 15:38 BST
The Lion Court building is nearing completion on the banks of the River Nene.The Lion Court building is nearing completion on the banks of the River Nene.
The Lion Court building is nearing completion on the banks of the River Nene.

The authority’s cabinet is set to approve an ‘in principle’ bid from its property company, Northampton Partnership Homes (NPH) to acquire the new apartment block at 85-89 Lion Court in Southbridge.

The building is at an advanced stage of construction and is due to be completed in February. Should the bid be approved, it is hoped that tenants could move in from early April.

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Built next to the banks of the River Nene and neighbouring the University’s Waterside Campus, the Lion Court development will be made up of 15 one-bedroom apartments, 28 two-bedroom apartments and one three-bedroom apartment. There is also a commercial unit with its own separate entrance.

A sketch of how the finished building will look.A sketch of how the finished building will look.
A sketch of how the finished building will look.

According to papers that will be read by members of the Conservative cabinet at the council, purchasing the property through NPH will ‘offer the council the opportunity to increase the supply of affordable rented housing in the borough and to reduce the use and cost of temporary accommodation’.

It is proposed that the homes will be let at affordable rents of up to 80 per cent of market rent levels, but will not exceed the Local Housing Allowance (LHA) rates.

The cost of the scheme has not been made public, but is outlined in private papers that will be discussed by councillors once the public element of next week’s cabinet meeting are over.

It will be funded through the Housing Revenue Account (HRA), and once appropriate due diligence has been carried out by senior officers, they will be given delegated powers to acquire the property.

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