Land at Bonscale Crescent, Langley, Middleton
To consider matters relating to land at Bonscale Crescent, Langley, Middleton.
The Sub-Committee considered the report of the Director of Economy which advised on the offers received for the disposal of the site at Bonscale Crescent, Langley for residential development.
The alternative bids were summarised within the submitted report.
1. That the conditional offer received from Lovell Homes as detailed within the report and subject to the terms and conditions set out in the Property Particulars, as outlined in Appendix 1 of the report be approved;
2. That any reduction to the conditional offer to determine the final net offer be delegated to the Portfolio Holder for Finance and Portfolio Holder for Housing, Planning and Development in consultation with the Director of Finance and Director of Economy;
3. That the Assistant Director of Resources (Legal, Governance & Workforce) be requested to prepare the appropriate legal documentation and execute such documents on behalf of the Council in connection with the disposal;
4. That in the event the disposal to Lovell Homes does not proceed that delegated powers are given to the Portfolio Holder for Finance and the Portfolio Holder for Housing, Planning and Development, in consultation with the Director of Finance and Director of Economy, to agree terms and accept an offer from one of the alternative bidders.
Reasons for the recommendation:
Redevelopment of the site for residential development will ensure that the regeneration of Langley will continue in accordance with the Langley Masterplan, adopted in 2008, together with the Langley Land Pooling Agreement (LPA), a legal framework established in 2010 between Rochdale Borough Council and The Riverside Group (TRGL), who own land within the Langley estate.
The framework pooled all the land together and the partnership was established to manage the development these sites for the benefit of the Langley estate.
The disposal of the site at Bonscale Crescent will provide the Council and TRGL with the best value for an outright sale of the land where the capital receipt will go into the LPA for use on the Langley estate to deliver community and environmental improvements across the estate.