Council signs off £2.1m borrowing for Cosham sheltered housing scheme
Portsmouth City Council have signed off more than £2m of borrowing for a sheltered housing scheme in Cosham.
Councillor Darren Sanders, cabinet member for housing, approved borrowing £2,105,000 to acquire a 14 bedroom housing scheme.
The building, located on Magdala Road in Cosham, is a purpose built block made up of 14 one bedroom studio flats with a staff sleepover unit, office accommodation and communal laundry, lounge and kitchen.
It is currently classed as a sheltered housing scheme, which provides supported accommodation for older people or those with disabilities.
The building, called Myfanway House, operated under Elm Trees retirement living until late 2025 and is now vacant.
The proposal comes in response to high demand for sheltered housing in the north of the city, with 207 applicants on the housing register as of January this year. Of these, 111 expressed a preference to be placed in the northern wards.
It is proposed that kitchenettes are installed in each flat so the building can be let to regular social housing tenants and to give residents the opportunity to live independently.
The staff sleepover unit would be redeveloped into a regular unit to provide a minimum of 15. In addition, some of the building’s communal areas could be reconfigured to create more flats.
Cllr Sanders said he is “delighted” to invest £2.1m into Cosham, providing “much needed sheltered accommodation which is actually essential”.
More information about the acquisition can be found here.