Supplementary memorandum by the Peabody
Trust (DEC 64(a))
I am writing in reply to your letter of 10 February,
requesting some additional information to amplify our written
evidence to the ODPM Select Committee inquiry into Decent Homes.
You raised four questions.
Q How many homes, if any, has Peabody
disposed of in the past three years?
A Over the past three years, the Trust has
disposed of 65 existing homes. These have been properties which
have been in a significant state of disrepair and where the cost
of repairing and modernising them was disproportionate.
Q How many homes, if any, are you planning
to dispose of over the next three years?
A We have currently identified 334 homes
which will be disposed of over the next three years. In addition,
we will be disposing of sites in our development landbank on which
we would have built a further 250 homes. However, this rate of
disposal is unlikely to be sufficient to enable us to meet our
current estimate of the cost of meeting the Decent Homes Standard.
It is, therefore, quite possible that in the absence of grant
support for example, the rate of disposals may increase in subsequent
years.
Q How many homes, if any, have so far
moved from controlled (subsidised) rents to market rents?
A We have moved 216 homes which were previously
social rented into our Market Rent Programme.
Q How many homes, if any, are you planning
to move from controlled (subsidised) rents to market rents over
the next three years and how many are planned beyond that?
A Over the next three years, probably no
more than 50 additional homes will be moved from social renting
to market renting. This relatively low rate is due to the fact
that properties available for market renting will be prioritised
for disposal during that period. Given the choice, the Trust would
prefer to market rent than dispose of properties because this
would enable them to return to social rented use at some stage
in the future. However, the need to generate cash to invest in
meeting the Decent Homes Standard makes disposals rather than
market renting a more viable proposition. Beyond the next three
years, we currently anticipate that we may be moving up to 100
homes a year from social renting to market renting.
I hope that these answers provide the information
you require. I would, of course, be happy to elaborate further
if you would find it helpful.
May I also take this opportunity to thank you
for your interest in the challenge we face in responding to the
Government's Decent Homes strategy.
Dickon Robinson
Director of Development and Planning
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