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Termination of the Development Agreement of the New Fosseway development
The Council (HRA) entered into a development
agreement to purchase 65 homes on the development at New Fosseway
in partnership with New Fosseway LLP in June 2024
Due to the change in the HRA financial position and Business Plan,
the decision was made to terminate the contract for the purchase of
these homes, subject to a suitable alternative affordable housing
provider being found by the LLP, at Full Council on 25 February
2025 with the final sign off delegated to the Executive Director in
consultation with the Chair of the Homes and Housing Delivery
Board
A suitable alternative offer has been received which allow Bristol
City Council to now terminate the contract, subject to the write
off up to £110k in abortive costs and up to £365k in an
undervalue.
Decision type: Non-key
Decision status: Recommendations Approved
Notice of proposed decision first published: 10/04/2025
Decision due: 9 Apr 2025 by Executive Director: Growth and Regeneration
Lead member: Councillor Barry Parsons, Chair of the Homes and Housing Delivery Committee Cllr.Barry.Parsons@bristol.gov.uk
Contact: John Smith, Executive Director: Growth & Regeneration Email: john.smith2@bristol.gov.uk.
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