The first home bought by Torbay Council as part of the local authority’s efforts to help meet the needs of homeless families is ready to move into.
The home is one of 37 which will be used to assist people in urgent need of temporary accommodation.
The council has borrowed £10m to fund the purchase and renovation costs. The council says the costs will be covered by rental income.
Twenty-three homes, ranging from two beds to five beds, are in the process of being acquired or have been purchased.
The council is working with Phi Capital Investments (Phi), who will source and acquire the properties and refurbish them to meet Decent Homes and sustainable energy standards.
It's estimated that the temporary accommodation will help more than 600 people a year.
Cllr Darren Cowell, deputy leader of Torbay Council, said: ‘Working with Phi has allowed us to purchase our own supply of temporary accommodation, which will mean more stability for people. I’d like to thank Phi for working hard to get this home renovated and habitable.
‘Phi will be employing the services of local tradespeople and suppliers, which will provide a boost to Torbay’s economy.’
Omar Al-Hasso, managing director at Phi Capital, said: ‘We’re delighted to be working in partnership with Torbay Council delivering this much needed housing. Safe, clean affordable housing is the cornerstone to helping families get their lives back on track. We are looking forward to the first residents moving in next week, and a steady stream of 36 more homes being handed over soon after.’
