Purpose

Options for the future of the building known
as Old County Offices

Content

There had been limited interest
in the open market for a third party to take on the Old County
Offices building due to viability issues. A developer had been
identified who was prepared to work collaboratively with the
Council to agree a contract with suitable safeguards for the
Council to implement the consented planning permission to convert
the building to 46 private apartments, the terms of the transaction
were considered in the confidential appendices. A decision on
whether to accept this offer was required. If the Council did not
take this option, the building would continue to remain empty until
the wider Aylesbury Town Centre regeneration schemes were
enacted.
 
The Council had undertaken a development
appraisal and cost plan assessment based on independent Quantity
Surveyors and a Preliminary Cost Planning by a Contractor. The
conclusion of that exercise was that it was not viable for the
Council to bring forward the scheme without significant subsidy.
The appraisal had been updated and was discussed in the
Confidential Appendix.
 
An application was made via the
One Public Estate Programme for Brownfield Land Release Funding
(BLRF) to improve project viability. The application was successful
resulting in a grant of £690,000 being awarded.
 
RESOLVED that subject to receipt of a satisfactory Best
Value Consideration Report as approved by the S151 Officer,
delegation be approved to the Service Director of Property and
Assets in consultation with the Cabinet Member for Accessible
Housing and Resources to finalise terms and pursue disposal of the
site to a residential developer pursuant to terms contained in the
confidential appendices by granting a long leasehold to convert the
building into flats in line with the current detailed planning
permission (20/02431/APP). Subsequently to agree contracts,
undertake required due diligence and exchange and complete on the
transaction.