Published: 26th Apr 2019

Great Yarmouth Council is to spend £2 million buying up run down bedsits and guesthouses in a bid to provide better quality homes in the borough. The local authority has approved plans to buy up and repair houses of multiple occupation (HMOs) and guesthouses which are ‘often not well maintained’ and according to a council report, can ‘bring an otherwise attractive area down’. The council is looking to renovate the buildings and bring them back into use as houses or flats in an improved condition. Councillors met earlier this week and approved a £2 million capital budget to fund the project. ‘The £2m will be funded from borrowing and the revenue implications (costs) of the borrowing will be mitigated by the revenue income stream from the proposals,’ the report states. ‘In principle the council aims to ‘recycle’ some of this funding through the sale of properties. ‘The council has an … (To read the full article, subscribe below)