Regeneration / CPO

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Regeneration/ CPO
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#1 05-08-2010, 01:16 PM
franmdell
Member Join Date: Jul 2010
Posts: 1

Regeneration/ CPO

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Hi all Im new on here, but thought i'd share this with you and see if anyone else has had problems, thank you for reading.

I purchased the a 3 bedroom end town house in 1993 as an investment to rent out, it was in need of extensive refurbishment comprising a large through lounge, kitchen, downstairs WC and cloakroom, hallway, 3 double bedrooms, bathroom, gardens to front, side and rear, with double glazing, central heating, fitted kitchen etc...
The property was an ex local authority property in Leeds of 5m construction. The house was a nice family home, and has been continuously let out to families since 1993.
In early 2005 the property was let to Amanda and her 4 children who occupied the property as her family home, in early 2006 Amanda contacted me to advise me there was rumours that the property was going to be demolished and wanted to know what was going to happen. I advised I would look into it, and I contacted Leeds City Council EASEL , as they are part of the council dealing with the regeneration, I gave them the property details and asked them what was happening. They advised me that I wouldn't be affected as the plans for the properties being demolished started at Number 21, as mine was a brick house I would not be affected by this scheme. I advised them this could not be possible as my property Number 19 was indeed attached to number 21 and it was NOT a brick property.
They made an appointment to come out and see me and we subsequently had a meeting shortly after this. At the meeting they apologised for not having kept me informed, discussed the proposed scheme and gave me a sheet with the options which were available to me. 1 of the options was a replacement property and to keep the tenant, the second option was that they would buy me out and would pay the tenant 3500 relocation and the third option was not available to me as I was not an owner & occupier of the property, this option was to buy me out and rehouse me in a council property, I queried with them what would happen regarding the capital gains tax, should they purchase the property back from me as I would be liable for 40% capital gains and wouldn't be able to replace a 3 bedroom property should I be taxed on it. They advised me they had other landlord investors and they would seek advise and come back to me. I didn't hear anything further.
Sometime further on, I telephoned the council to find out what was happening, and they advised me the scheme was on hold due to lack of funding. I advised Amanda of this.
In summer 2008 Amanda contacted me again to advise me properties were being demolished in the area and wanted to know what was happening, I again contacted EASEL who advised me that my property was a brick house and I would not be affected (same scenario as previously) again when they realised my property was part of the scheme, they arranged to visit me at my home address. The Council agent that visited me profusely apologized to me for the mix up and to draw a line a start again. I advised her that I wanted to keep the tenant, as she had been a good tenant, and would be interested in either a property exchange or we agreed a price, I found a property, they paid me out on the property, and they moved Amanda to the new property so I was able to keep my tenant. I also advised them at this time that the property was due to be refurbished as the current tenant had be occupied in it since 2005, they advised me not to do any refurbishment works as it would not make any difference to the price, as they were going to be demolished anyway. We spoke about the capital gains situation, yet again, and she advised she would seek advise and come back to me. She also said she wanted a surveyor to value the property so we could start looking at other properties, she advised the surveyor would be able to value it on drive by, which is common practice. She advised she would have a price to me by December 2008.
I received an offer from Leeds City Council in 2009 for 50,000 to which I declined the offer. In the meantime, Leeds City Council had been round to see my tenant, rehoused her and paid her 3500 to relocate, so I had lost both my tenant and my income.
I re let the property to another tenant Nicola Wilson who had to move because vermin infestation due to the surrounding properties having been demolished. I spent 4,000 to bring the property up to standard in order for April to move into it. I then re let the property again to April Matthews, who was burgurled on the 8th June 2010 and would no longer stay in the property as all the other properties surrounding had been demolished and she felt venerable.
April then vacated and the door was boarded up. A week after April vacated the property the property was broken into, where the property wall had been removed by gypsies who have now moved onto the vacant land surrounding the property and the property has been stripped of boiler, radiators, pipes, kitchen, bathroom, wiring, sockets and switches ect down to a bare shell. I have an existing tenant who wants to move into the property but as you can see the property now needs extensive renovation.
I telephoned EASEL as a potential buyer to number 17 Brooklands Avenue, and asked what was going to happen. I was put through to an EASEL agent and asked what was going to happen to the block of houses which were boarded up on the next block (my property) as I did not want to live next to a building site for the next 10 years, she advised that the council tenant was moving within the next 2 weeks and that the end house (my property) they were currently under negotiation with the owners and the block would be demolished within the next 8 weeks.
I contacted councilor Vonnie Morgan who advised she would look into this for me, that was the 5th July 2010, she telephoned me back and advised that she had spoken to Louise Almond who advised the Council was dealing with this and that somebody from the Council would contact me the following morning. I have not heard anything since. I have not received any further contact from leeds city council or easel since feb 09, I have never received a CPO.

Anyone else had problems with regeneration schemes

franmdell
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