Purpose

Doncaster Rovers Football Club (DRFC) have a 99 year lease of 15 acres of land off Cantley Park known as Cantley Park Training Ground from 1st August 2012.

Rent payable
Discussions have taken place with DRFC regarding their potential acquisition of the freehold interest in the land. An independent valuation of the freehold interest has been undertaken, which
assessed the land at The valuation was based on a yield of informed by comparable evidence from established industrial park ground leases and supermarket ground leases. CDC-qualified surveyors and DRFC’s appointed agents agreed that the adopted yield was
not representative of the subject property, and that a yield of would provide a more accurate basis for valuation, reflecting:
• the site’s locality
• the tenant mix
• the limited strategic alternatives for the land, and
• its lower investment-grade characteristics

Following the reassessment of the yield, provisional terms for the freehold disposal were jointly agreed at:
• purchase price;
• plus reimbursement of CDC’s surveyors’ fees and legal fees,
• plus an ongoing contribution of of the maintenance and repair costs for the access road serving the site.
• Advertisement of the loss of POS in the local paper.
• This combined package results in long-term financial benefit beyond the headline purchase price.
• In addition to valuation evidence, the proposed disposal supports the Council’s strategic outcomes and produces broader public value/community benefits.

Decision

To approve the freehold disposal of Cantley Park Training ground, Ascot Avenue, Cantley, Doncaster by way of private treaty to the tenant Doncaster Rovers Football Club.

Alternative options considered

Do not sell to the tenant who will continue to occupy under the terms of the existing lease. This option will not support a local business investing money into the property in the future.