A substantial residential property that we own in the heart of Borehamwood is set to be repurposed for the benefit of the local community, following legal agreement bringing a previous long lease arrangement to a close.
It has been agreed that the long lease for Stonham House in Theobald Street is to be surrendered to us by mutual agreement with the current leaseholder, national housing association Home Group. This will now enable opportunities for the building, which has stood empty for several years, to be assessed and delivered.
Cllr Jeremy Newmark, Leader of the Council and Portfolio Holder for Asset Management, explained: “I have committed to maximising the assets owned by the council for the benefit of residents across the borough. I’m also keen to optimise every opportunity to increase much-needed housing supply.
“This particular property, which is in a prime location in the heart of Borehamwood, has stood empty for quite some time. I am really pleased that after lengthy negotiations we’ve been able to finally reach agreement with Home Group.
“This will now mean we can move forward and determine the best future use of the building but with a commitment that the primary focus will be on providing the kind of homes that we need around here.”
