Purpose

To agree marketing and disposal of 5
sites

Content

This report sought to authorise
the Corporate Director for Resources, in consultation with the
Cabinet Member for Resources, to proceed with a disposal programme
of five sites, all identified as being surplus Council owned
assets. The assets were spread across the County – two in
High Wycombe, one in Aylesbury, with the others being in Wing and
Winslow. All bar one of the sites were already identified for
disposal in the current MTFP. The exception was previously
allocated to a development project with a public sector partner,
but this transaction had recently fallen away. This site
was  vacant, non-revenue generating and
available for immediate disposal.
 
The marketing strategy for each
site was to conduct an open market campaign seeking conditional and
unconditional offers. The objective was to attract a broad range of
bids for each of the sites. These can then be evaluated to
determine which proposal best met the Council’s overall
objectives including financial, and contribution to both the
economic growth prospects and social benefits to the area. Disposal
of these sites for housing would also comply with Priority 3 of the
Buckinghamshire Housing Strategy to “explore the use of local
authority assets and resources for the purposes of delivering
additional new housing.
 
The five properties
were:-
i.                   
Orchard House and Courtyard site, both in High
Wycombe (to be marketed at the same time).
ii.                 
Thame Road, Aylesbury, adjoining Aylesbury
College.
iii.               
Former Highway Depot site, Wing.
iv.               
Four single dwelling plots on Oak Way,
Winslow.
 
RESOLVED that with regard to all of the sites listed at
paragraph 3.2, that the  Corporate
Director for Resources be authorised in consultation with the
Cabinet Member for Resources to:
 
• Market the sites to achieve the best consideration under
Section 123 of the Local Government Act 1972.
• Appoint a marketing agent to secure bids for the disposal
of the sites.
• Approve a disposal budget to cover marketing, due
diligence and legal costs as set out in the Confidential Annex of
the report.
• Implement the Council’s communication
plan.
• Negotiate draft heads of terms with preferred purchasers
and instruct legal to prepare all the necessary legal
documentation, agreements including service of any notices and/or
submission of any applications required for the sale of these
properties.
• With regard to the Winslow site only, in the event of no
offers for all four plots being received, plots to be lotted and
considered for individual sale.