Hammersmith and Fulham Council is set to establish a wholly-owned housing company, with the aim of delivering 30 new homes in its first year of operation. The decision was made at a Cabinet meeting on Monday 10 November 2025, where councillors approved the incorporation of the company and noted its draft business plan. To ensure transparency and accountability, officers will provide regular progress updates and briefings to Cabinet and Cabinet Members, including an annual update report to Cabinet.
The housing company aims to refurbish council-owned blocks currently sitting as voids, and explore opportunities to acquire additional homes. Three disused blocks have been identified as pilot schemes, which would deliver the first seven new homes for the company.
Councillor Rowan Ree, Cabinet Member for Finance and Reform, presented the update on the housing company to the Cabinet. The Public reports pack 10th-Nov-2025 19.00 Cabinet included the Update on Housing Company report, which detailed the company's strategic direction and financial plans.
The Cabinet also approved the provision of a loan facility to finance the company's first year of operations. This will enable the refurbishment of the initial void properties and allow the company to explore other investment opportunities. The specific amount of the loan facility is specified in exempt Appendix Two. The Cabinet also delegated authority to Councillor Ree, in consultation with the Executive Director of Finance and Corporate Services and the Director of Legal Services, to agree the final terms of and to implement the loan facility.
Further decisions were delegated to Councillor Ree, in consultation with the Executive Director of Finance and Corporate Services and the Director of Legal Services, to agree the final terms of the loan facility and authorise the transfer of underutilised assets to the company. The Cabinet delegated authority to the Cabinet Member for Finance and Reform, in consultation with the Executive Director of Finance and Corporate Services and the Director of Legal Services, to authorize the transfer of underutilized assets to the Company.
The Executive Director of Finance and Corporate Services and the Executive Director of Place were also delegated authority to negotiate and enter into service level agreements with the company to support its operations. The Cabinet delegated authority to the Executive Director of Finance and Corporate Services and the Executive Director of Place to, acting on behalf of the council, negotiate, agree and enter into Service Level Agreements with the Company on behalf of services within their remit(s) to support the operations of the Company.
The Key Decisions List 153 - November 2025 noted that the Housing Company Update was a key decision made at the meeting.
The initial decision to create a Housing Company was made in principle in November 2024, as detailed in the Appendix 1 - November 2024 Cabinet Report Creating a Housing Company report.
