Issue - meetings

Report DRR16/093

Authority to dispose of this site had been given in March 2016, but it had also been agreed that the temporary use of the site as a car park be explored. The Council’s recent disposal practice was to go to market seeking offers subject to planning. However, this had led to offers being made on the basis of unrealistic schemes which could not obtain planning consent. It was therefore proposed to try an alternative approach whereby planning permission for an optimal scheme would be obtained prior to re-marketing the site. This would potentially generate a larger capital receipt. The Executive was particularly interested in exploring the possibility of a joint venture.

The report had been scrutinised by the Executive and Resources PDS Committee on 4^th January 2017. The Committee supported the recommendations, but with the benefits of ensuring an overage clause and looking at whether the disposal should be considered as part of a joint venture.  In addition, the PDS Committee commented that it would also be helpful to have some information on the extent to which £46k represented value for money for obtaining planning consent on the site, and the Chairman of the Committee commented that a transparent, “open-book” approach was required.

RESOLVED that

(1) The appointment of Cushman & Wakefield be approved to develop a scheme in order to achieve best consideration for the site by -

a)  The submission of a planning application.

b)  Once planning permission has been achieved, exploring the possibility of a joint venture and marketing the site on a non-conditional basis.

c)  Post marketing, evaluating the bids received, recommending a prospective purchaser for the site via a report to the Portfolio Holder for Resources seeking his approval for the disposal of the site to the recommended purchaser.

(2)  It is agreed that the estimated cost of £46k be met from the Investment Fund.