Purpose

Consideration of whether to sell land at the former Clifton Hill Leisure Centre for best consideration or at an undervalue to facilitate the delivery of an Affordable Rent Extra Care retirement scheme

Decision

Agreed:

RESOLVED that the Executive agree:

(1) the sale of the Former Clifton Hill Leisure Centre site to Preferred Homes Limited for £3.375 million at an undervalue of £425,000, conditional upon planning approval being granted for the delivery of 100% Affordable Rent Extra Care housing scheme for older people; and

(2) that the Head of Commercial Assets, in consultation with the Strategic Director of Corporate Resources (s.151 officer) and the Leader, be granted delegated authority to approve the final terms of the sale.

RECOMMENDED that Council approve a budget for £50,000, funded by anticipated capital receipts to cover disposal costs (including external agency and legal fees) associated with this sale.

Reason for Decision: As set out in the report.