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RBWM Property Company to boost portfolio from 13 to 126

Councillors at the Royal Borough cabinet meeting on Thursday were told about RBWM Property Company Ltd’s ambitions to grow its ‘asset base of 13 existing properties to 126 by the end of 2024’.

The RBWM Property Company is a trading subsidiary of the Royal Borough and manages a property portfolio focused on affordable housing.

Cllr Andrew Johnson, lead member for infrastructure, transport policy, housing and property, said: “We have an updated business plan covering a five-year period for 2019-2024 with a modest but I believe realistic and achievable growth ambition of growing its asset base of 13 existing properties to 126 by the end of 2024.”

The proposal for the new homes, which is subject to change, currently consists of 48 social rented properties, three affordable rent, six mainstream open market rent and 69 shared ownership properties.

Of the 126 properties 67 have already been approved by the cabinet through capital bids funded by the council.

The cabinet unanimously approved the RBWM Property Company’s Business Plan for 2019-2024.

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