What is Treveth?
Treveth, the Cornish word for ‘Homestead’, is a partnership business set up by Cornwall Council in April 2019 to create new homes and commercial development to benefit people who live and work in Cornwall. We only operate within Cornwall but are happy to partner with others to deliver our objectives. Treveth has a Limited Liability Partnership (LLP) corporate structure.
Who owns Treveth?
Treveth is 99% owned by Cornwall Council and 1% by the Corserv Group Limited. All of the profits generated from our activities are returned to our partners.
Why was Treveth set up?
Treveth was established through Cornwall Council’s determination to improve people’s lives. Our role is to assist the Council in delivering its objectives of improved housing, economic growth and job creation. The aim is for Treveth to be a viable, profitable business with a long-term business plan to deliver consistent and reliable returns to its owners against a backdrop of reduced central government funding.
Is Treveth bound by local authority procurement rules?
No. Treveth is a Teckal Company created with a commercial intent, which means we can operate as a commercial organisation and are free to contract directly, with whomever we choose.
What makes Treveth’s homes different?
Treveth’s objective is to improve the quality of new homes in Cornwall, especially in the private rented market. Our homes exceed current minimum space standards, across all tenures, and are designed to help reduce the running costs for occupants through the use of low carbon technologies including solar panels and sustainable energy solutions.
What tenures are available?
Treveth’s homes are available to rent or buy, and we plan to offer shared ownership so there are no affordability ‘gaps’ in our developments. Our housing schemes will fulfil local Local Plan requirements for affordable homes, with schemes generally including an element of homes for open market sale, and the remainder for private rent. This may differ from scheme to scheme depending on what the local market requires. Treveth are committed to each of our developments, long term, through the continued ownership of our rental properties and the wider management of the wider scheme to ensure our sites are maintained to the highest standards.
- Private Rented – Private Rented housing is property owned by Treveth and leased to a tenant. Treveth Homes is the landlord, and tenants deal directly with a management company caring for the property on our behalf. Tenants occupy the properties under a tenancy agreement and pay full market rent. Most of Treveth’s properties are of this type.
- Affordable Rent – Affordable Rented housing is owned, let and managed by a Registered Provider (in a similar way to social rented homes). Rents are typically set at 80% of open market rented value in that area.
- Open Market – Open Market housing is property offered for sale on the open market at or near open market value.All of Tr eveth’s Open Market sales homes are offered as freehold properties meaning that buyers have complete ownership of a piece of land and the property that is built on it. It is the owner’s responsibility for any repairs or upkeep to the property and land.
- Shared Ownership – Shared Ownership is where you buy a share of a property from a UK Housing Association with the option to buy more or all of the property at a later date, this is known as staircasing. You then pay the Housing Association rent on the part of the home that you don’t own. Further information can be found using this link.
Why does Treveth offer three-year tenancies as standard?
Cornwall has a big problem with seasonality of the private rented market which results in short term tenancies, large fluctuations in rent payable between summer and off-season all of which has an impact on occupier stability. This makes it difficult for people to put down roots in their communities if they can only occupy a property for six months.
Treveth homes rental properties have leases that last three years, and if you want to renew at the end of that period then you will be given every opportunity to do so. This allows individuals and families to grow in the communities they live in.