Purpose

Agreement with adjacent landowner to bring forward land in High Wycombe which is allocated in the local plan for residential development.

Decision

Abbey Barn Lane was a council-owned land parcel of 3.99 acres/1.58 hectares that was allocated in the Wycombe District Local Plan for residential development. It was adjacent to several other land parcels that were also allocated for residential development. At present the land was clear of any development and was scrubland.

This report sought authorisation for the Corporate Director for Resources in consultation with the Cabinet Member for Resources to proceed with a conditional sale agreement of the land at Abbey Barn Lane with the adjacent land to bring forwards residential development of the whole site known as Abbey Barn North (“ABN”). The conditions would be documented in the Collaboration Agreement ensuring that the disposal meets the requirements of the Council.

The objective was to pass the risk of cost and planning onto the adjacent landowner who would build on the development brief (attached at Appendix 3 – Development Brief) to create one for ABN which could then be jointly marketed for disposal and residential development.

The primary financial objective was to contribute to the capital budget target set out in the Medium-Term Financial Plan (MTFP), while also satisfying the Section 123 requirement to achieve best value in the disposal of public assets.

RESOLVED that authority be delegated to the Corporate Director for Resources in consultation with the Cabinet Member for Resources to:

1)      Conclude negotiations for and enter into the Collaboration Agreement with the adjacent landowner at Abbey Barn Lane (broadly in accordance with the draft heads of terms attached at Confidential Appendix 1) and to take all consequential steps necessary to enable the site to be disposed of following completion of a planning and marketing process.

2)      Appoint an agent to report on the best consideration reasonably obtainable in accordance with Section 123 of the Local Government Act 1972 supporting the decision to dispose of the site taken here.

3)      Produce a further report to Cabinet following the conclusion of planning and the marketing exercise, setting out the recommended bidder and final disposal value.