Substantial Financial Investment of £10 Million Planned for More Than 200 Residential Properties in Wiltshire

Wiltshire Council has announced a significant investment in housing, aiming to tackle issues caused by the cost-of-living and social care. The council has allocated funds totaling more than £50 million, with the intention of utilising them as equity to purchase up to £40 million worth of homes.

The funds have been granted through the Local Authority Housing Fund, and Wiltshire Council has set aside £10 million from its reserves to address the county's housing shortage. The council's own company, Stone Circle Housing, will be used to acquire more than 250 homes.

The acquired homes will not only help address the housing shortage but also support the long-term needs of Wiltshire residents. Additionally, they will fulfil the council's commitment to house Ukrainian and Afghan families who have been displaced.

The investment is a serious approach to addressing housing issues in Wiltshire, according to Richard Clewer, the council leader. He stated, "This investment is a significant step towards providing secure housing for our residents, and it forms a key part of our strategy to offer long-term solutions across various council services."

In a related development, the county received a government grant of over £4 million to acquire 24 homes for Ukrainian and Afghan refugees. The funding for these homes is being leveraged up through borrowing, with a ratio of 40% grant funding and 60% debt.

The plans also aim to ensure that secure housing plays a key part in providing long-term solutions to residents' needs. Wiltshire Council has appointed Wiltshire Council Homes Ltd. to develop the planned homes, and the investment will help families move out of temporary accommodation, providing them with more permanent solutions.

This investment marks a significant commitment by Wiltshire Council to improve housing conditions and provide secure homes for its residents, as well as for displaced families from Ukraine and Afghanistan.

Substantial Financial Investment of £10 Million Planned for More Than 200 Residential Properties in Wiltshire