Fenland District Council has £800K house and flats in its sights

Fenland District Council looks set to spend around £800,000 purchasing a property to help meet its “housing duties”.

A report to the council’s recent cabinet meeting explained why purchasing Meadowcourt, in Main Road, Elm would be a good investment.

It explained the council became aware of the property, which comprises seven units plus the main house, earlier this year.

The report explains the units are all tenanted and are producing a rental income, which would help support Fenland’s objectives in its Commercial Investment Strategy in the shorter, and in both the shorter and longer-term assisting the authority to meet its statutory housing obligations.

it points out the main house has the potential to be converted into flats which would help meet the housing duties in a “more financially efficient way”.

The actual costings were set out in a confidential part of the report but, cabinet members were recommended to authorise officers to purchase the property through its Section 151 officer in consultation with the council’s portfolio holder for finance – Councillor Chris Boden – and following satisfactory due diligence.

The report then asks members to authorise officers to proceed with a planning application for the conversion of the main house with costs to be approved in advance with the S151 officer and Cllr Boden.

Meadowcourt House is listed on Rightmove through Wisbech-based Hockeys estate agents as sold subject to contract. The asking price was £800,000.

A description of the property describes it as “a rare and exciting investment opportunity in the heart of the picturesque village of Elm.

“This substantial and iconic property, known as Meadowcourt Court, is a large detached building which has been meticulously designed and divided into 8 self-contained units, each with their own exclusive access. This unique property presents a diverse range of living spaces, catering to various preferences and lifestyles.”

It adds: “Situated over two floors, Meadowcourt House is the crown jewel of this investment. The property boasts multiple reception rooms, three bedrooms, four bathrooms, and a well-appointed kitchen. A distinctive feature of Meadowcourt House is its elegant curved staircase, adding a touch of sophistication.”