The first 4-year Business Plan of Qualis – the Council’s wholly owned property company – was discussed by members of the overview and scrutiny committee last week.
Members heard that in its first 2 years Qualis successfully transferred over the Council’s Housing Maintenance Team and is seeking permission for important development sites in Epping and Waltham Abbey.
As the only shareholder in Qualis, the Council benefits from its performance in a variety of ways and its financial success is key in enabling the Council to protect valuable core services to residents and keep Council Tax low.
A continued priority for Qualis is acquiring and progressing key regeneration sites across the district promoting new opportunities for housing, leisure, retail and jobs.
Alongside the Council’s £150 million portfolio of commercial assets Qualis plans to continue to grow its own portfolio and plans are proposed to explore aligning common functions within the two organisations, starting with the Council’s asset management team.
Qualis is generating nearly £2 million a year for the Council, with the business plan forecasting this income will more than double in the coming four years, going a long way towards solving some of the predicted financial challenges the Council faces.
The link between Qualis and the Council brings choices not normally available to a local authority when working with private sector developers, such as balancing financial returns with community needs including affordable housing, leisure and other amenities and green spaces.
Keep up to date
Keep in touch with our latest news, service updates and reports.