Woking: Bankrupt council to sell off affordable homes

Councillors voted to strip 39 affordable homes from its Sheerwater regeneration project and sell them on the open market

An effectively bankrupt council in Surrey is to sell off affordable homes in an attempt to stay afloat.

Woking Borough Council previously imposed emergency spending restrictions on itself due to its £2bn debt.

All spending for non-essential services was halted after the Section 114 notice was issued.

Councillors voted to strip 39 affordable homes from its Sheerwater regeneration project and sell them on the open market.

The decision, which means there will be 68 affordable homes in the block instead of 107, was made by the council in an attempt to keep its flagship housing project financially viable.

As a result, every three-bed, two-bed and non-specialist one-bed property will be put on the market.

The decision has led to criticism that the borough's best chance to alleviate the housing shortage will be lost.

"This is another big casualty of this financial mess we have," Councillor Tahir Aziz said.

"It's sad. It's another setback we are having in Sheerwater."

The homes are to be offered to Thameswey, a private company created by the council to handle Woking's regeneration projects.

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