Waverley Council Seeking To Spend £14m To Acquire 48 Affordable Homes

Published on: 8 Oct, 2026
Updated on: 8 Oct, 2026

Waverley Borough Council offices Chris Caulfield

By Chris Caulfield

local democracy reporter

Waverley Borough Council is set to spend more than £14 million to get its hands on 48 more affordable homes.

Once secured, the properties, split between two sites, will be used to help ease its housing wait lists.

Forty of the affordable homes will be in Waverley Lane as part of an estate called Waverley Gardens with the remaining eight homes forming the Farnham Oaks development in Wrecclesham Hill.

Cllr Janet Crowe

Cllr Janet Crowe (Lib Dem, Godalming Farncombe & Catteshall), co-portfolio holder for Housing told the Tuesday (October 6) Executive Committee: “Officers have identified an opportunity to acquire 48 affordable homes across two development sites in Farnham.

“These homes comprise the affordable housing element of the development secured through section 106 planning obligations, and acquisition by the council would increase the supply of affordable housing in Farnham and contribute towards meeting identified housing needs within the borough.

“Delivering decent and affordable homes is a key corporate priority of this council.”

As the proposed acquisitions are above the £1 million threshold they will also require the approval of the West Surrey Shadow Executive but council documents show a budget of £14,454,118 has been set aside for the project.

This is expected to come from a combination of borrowing from its housing revenue accounts, and money brought in from the sale of assets. The exact breakdown of the financing is still being kept private, the council said.

However, it expects these to be made public once the new properties are handed over to the council.

Miller Homes approached the borough inviting expressions of interest in buying the affordable homes which would be built as part of its development at Waverley Lane.

Nicholas King Homes acted similarly in regards to its own development at Wrecclesham Lane.

The council’s bids have been accepted, subject to it getting the necessary internal approvals and legal agreements signed off and the deal recommended for approval by its executive.

Cllr Crowe added: “The homes will be managed as part of the council’s housing stock and will be managed and allocated.

Cllr Kika Mirylees

“The 10-year split on Waverley Gardens will provide 32 homes on affordable social rent and eight homes for shared ownership, and three shared ownership homes are Farnham Oaks.”

Cllr Kika Myrlees, (Farnham Residents, Farnham Firgrove) portfolio holder for Community Services, said: “This is great news, especially for Farnham because I know we struggle with all this.”