Milton Keynes' only youth hostel to be rented out as private home
YHA no longer want it and the council is shedding its interest in the 18th-century stone farmhouse
The 18th-century stone farmhouse that has been MK's only youth hostel for decades is to be converted back into a private home.
The hostel is owned by MK council but rented on a 999 lease to the Parks Trust. For the past 40 years it has been leased out to the Youth Hostel Association (YHA), but this agreement expired earlier this year.
"YHA like many organisations is rationalising its estate, given it operates on very low margins, and has taken the decision not to renew its lease," council papers state.
It was agreed this week that MK Council will now sell its freehold interest in the Grade 11 listed property to the Parks Trust for £175,000.
This represents the 'marriage value' of the trust's leasehold interest, state the council documents.
They add: "Milton Keynes Parks Trust will then be able to refurbish the property and let it on a residential tenancy to a new tenant."
But, rather than pay the council £175,000, the Parks Trust will spend the cash on some of the renovation work necessary on a set of historic almshouses a few miles away.
The decision was taken by Labour's Cabinet member for resources, Cllr Rob Middleton.
He further agreed that the Great Linford almhouses, which require more than £1m spending of them, should also be handed to the Parks Trust by the council.
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