Purpose

Acquisition of the Tyefields site for a purchase price of up to £1.05m to be met from the HRA

Decision

To enter into and complete the following legal documentation to give effect to Cabinet's decision of 15th January 2026 relating to the acquisition of Land East of Tyefields including (but not limited to):

1. TP1
2. Conditional Contract
3. Overage Deed

together with any ancillary, supplemental or consequential documents required to give effect to those transactions, on terms consistent with the Cabinet resolution and the agreed heads of terms.

Authority is also given to make any minor, non-material amendments to the documentation that are necessary to facilitate completion.

For the avoidance of doubt, this officer decision authorises completion of the acquisition in accordance with the Cabinet resolution. The Council's financial commitment at this stage is limited to a £25,000 deposit, with the balance of the purchase price only becoming payable upon receipt of satisfactory planning consent. This limits the Council's exposure and planning risk as, in the event that a satisfactory planning consent is not secured, the Council may terminate the transaction with its financial exposure limited to the £25,000 deposit. Accordingly, the Council's financial exposure prior to the grant of planning permission is limited to the £25,000 deposit.