Issue - decisions

Consilio Property Limited was a company limited by shares founded in September 2017 by South Bucks District Council.  In April 2020 100% ownership of Consilio had transferred from South Bucks District Council to Buckinghamshire Council.  The aims and objectives of Consilio had been reviewed and revised to align with its shareholder objectives of enabling the new development of residential property on surplus land on the council’s existing estate to:

·            Increase the amount of good quality affordable and key worker housing stock for Buckinghamshire’s residents.

·            Increase the supply of private housing to meet the Councils housing needs under the adopted Local Plan.

·            Promote and showcase by delivery Buckinghamshire Councils affordable Housing aspirations.

·            Provide a financial return to the Council for the benefit of its residents, where viability allows.

Consilio would have a positive impact on the county’s economic development and help influence economic performance by helping to increase the County’s housing supply.  The company currently held a portfolio of property assets comprising of two commercial buildings and a development of 34 flats, including 14 of which were allocated to affordable housing.  Future Freehold development proposals were currently under consideration by Consilio as evidenced in the Consilio Business Plan, detailed in the confidential part of the agenda.

To be compliant with regulations surrounding the supply and management of Social Housing, Consilio was building the appropriate structure to secure Registered Housing Provider (RP) status as soon as possible.  Funding in the new Consilio landscape would require ongoing discussion and agreement with shareholders. There might additionally be grant funding available from Homes England, especially once RP designation was achieved, that could be secured on a project specific basis to support future residential investments.

In 2021, Consilio Property Ltd had appointed a new Directorship team to enhance good governance and transparency and to take the company forward.  In summary, Cabinet was informed that Consilio Property Ltd was well structured with both good governance and internal and external professionals in place to support ongoing management.  Consilio was now well placed to deliver the aims and objectives shared with Buckinghamshire Council.

RESOLVED –

(1)          That it be NOTED that the Business Plan attached to the Cabinet report represented a true and accurate reflection of Consilio Property Limited’s past and current position. 

(2)          That the Business Plan be AGREED, noting that Consilio Property Limited was expected to continue to generate net returns even with no additional investment.