Purpose

Approve the freehold disposal of garden land
known as Land to the rear of 4 Middle Farm Close, Effingham
Authorise the Joint Assistant Director for Assets and Property to
negotiate terms for a disposal of garden land known as Land to the
rear of 4 Middle Farm Close, Effingham at best consideration and
subsequently enter into all relevant legal documentation required
to complete the sale in return for a capital receipt.

Content

Decision:
(1)        
That the
freehold disposal of Land to the rear of 4 Middle Farm Close,
Effingham, be approved.

(2)        
That the
Joint Assistant Director for Assets and Property be authorised to
negotiate terms for a disposal of Land to the rear of 4 Middle Farm
Close, Effingham at best consideration and subsequently to
enter into all relevant legal
documentation required to complete the sale in return for a capital
receipt.
Reason:
To
generate a capital receipt that will contribute towards the target
to secure £50 million (net) of capital receipts from the sale
of General Fund property assets, as set out in the Council’s
Financial Recovery Plan to reduce Council debt and achieve a
sustainable financial position. 
Other options considered and
rejected by the Executive:
To
retain the land to
the rear of 4 Middle Farm Close within the Council’s
ownership and continue to include this land as part of Home
Farm.
Details of any conflict of
interest declared by the Leader or lead councillors and any
dispensation granted:
None.