CIVIC chiefs have agreed a new business plan for the council's housing company, which includes managing 41 new flats in Winnall.

The plan for Venta Living Ltd was rubber-stamped at the full meeting of Winchester City Council on Wednesday, September 20.

Cllr Chris Westwood, cabinet member for housing, said: “We are close to completing the construction of 41 highly energy efficient homes at Winnall as part of our Homes For All priority.

"When in consultation with the Winnall community, it was agreed that the development of these homes would be for a market renting product that would promote diversification of tenure at Winnall which will prevent an over-concentration of homes for social rent. 

“Venta Living offers many additional benefits to both tenants and the HRA. It offers tenants far greater security because the housing company, as the landlord, will have a long-term commitment to renting homes to the community. 

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“I think this is a great leap forward for the council.”

In the council's report, it said: “The purpose of this report is to seek council consideration of the reserved matters of the shareholder agreement with the council’s wholly owned company Venta Living Ltd.

“Following consideration on July 10 2023 by Cabinet Committee: Housing, the draft financial business plan and appointment of auditors are recommended for approval. 

“Subject to council approving the financial business plan it is recommended that it pass a special resolution as sole shareholder of Venta Living Ltd to reduce the share capital to £150,000 reflecting the equity required by the financial business plan.”

The city council is committed to retaining council houses under their control with a target of building 1,000 by 2031.

Cllr John Tippett-Cooper said: “The Winnall flats are in huge demand, they will make a lot of difference in people's lives.”

Cllr Jamie Scott said: “Communities and families change over time. Different living options are very welcome. This is vital for affordability.”

The recommendations were unanimously approved.