Issue - meetings

Proposed Disposals - Terms and Conditions

Meeting: 28/07/2020 - Cabinet (Item 28)

Proposed Disposals - Terms and Conditions

Report of the Director of Economy

Additional documents:

  • Restricted enclosure 2
  • Restricted enclosure 3
  • Restricted enclosure 4

Minutes:

Consideration was given to a report of the Director of Economy seeking approval for the method of disposal of three Council-owned sites for housing development.  It was proposed that all three sites are disposed of off-market to the same developer. The purpose of this method of disposal was to accelerate the disposal and the subsequent development of the sites for housing. To achieve this it was proposed to enter into conditional Sale & Purchase Agreements for each site, requiring a developer to bring forward the acquisition and development of the sites within a reasonable timescale once the conditions precedent have been satisfied.

 

Alternatives considered

The Council could advertise the sites on the open market by way of a competitive process. This method of disposal might achieve a higher value, but would be less likely to produce the partnership approach to the development.

 

Resolved

1.    That approval be given for the disposal of the three sites by way of off-market disposals.

2.    That approval be given for the proposed method of disposal of the three sites by way of conditional Sale and Purchase Agreements.

3.    That delegation be given to the Portfolio Holders of Finance and Planning, Development & Housing, the authority to approve the final terms and conditions of the proposed disposal of the site at Leighton Avenue, Middleton.

 

Reason for resolution

The three sites have all been declared as being surplus sites.