Woking Borough Homes

In April 2005 the Council established a housing company, Woking Borough Homes, for the delivery of houses to let at affordable rents.  Woking Borough Homes is 100% owned by Thameswey Ltd.  The company can both acquire and construct properties with a view to optimising the number of affordable homes.  Projects run by the company are funded through a combination of shared capital, loan and grant.

Aims and scope

Woking Borough Homes was set up to benefit to Woking residents by facilitating the delivery of affordable rented properties (with future potential for shared equity schemes).  Its scope compliments the existing programme of delivery which the Council has with its Housing Association partners, maximising the availability of social housing in the Borough.

Properties which are owned by Woking Borough Homes are let to those on a waiting list through the Council’s Choice Based Lettings system, Hometrak.  Tenancies are let on Assured agreements and tenants do not acquire the Right To Buy so the company stock will be preserved for social housing. The rental administration, renovation and maintenance of all the properties is managed by Woking Borough Council on behalf of the company.

Current Work

Work is currently underway on a scheme at Brookwood Farm to build 10 affordable homes.  The site will comprise 6 three bedroomed houses and 4 two bedroomed houses.  The properties will achieve a Sustainability Code Level 5. As well as additional insulation, the development will have photovoltaics, and a system of rain water harvesting.

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Property portfolio

  • Woking Borough Homes currently owns 57 properties.  Of these 26 were existing street properties bought in areas where the Council manages other homes.
  • The company also owns 25 flats on a new build scheme which were acquired on completion.
  • Woking Borough Homes have had a purpose-built a block of 6 units of self contained temporary accommodation constructed, to let to homeless families.