Purpose

To award delegated authority to appoint
external property agents to commence formal marketing and to
negotiate terms for a disposal of Land at Salt Box Road at best
consideration

Content

Decision:

1.                    
Note the comments of the Overview and Scrutiny
Committee meeting held on 18 November 2025 and set out at paragraph
11 of this report; and
 

2.                    
Delegate Authority to the Joint Assistant Director
for Assets and Property, in consultation with the Portfolio Holder
for Finance and the Joint Strategic Director for Finance and
Resources, to commence formal marketing and to negotiate terms for
a disposal of Land at Salt Box Road, Worplesdon at best
consideration and to enter into all relevant legal documentation
required to complete the sale.
 
Reason(s):
To enable the Council to
generate capital receipts through the sale of approved property and
land assets to contribute to the £50m (net) target, as set
out in the Financial Recovery Plan to reduce Council debt and to
achieve a sustainable financial position.
 
Other options considered and
rejected by the Executive:

1.                    
Do nothing and adopt a business as usual approach to this asset
continuing to seek to licence the land for grazing use and
generating (limited) rental income. This option would not provide a
capital receipt to contribute towards the targeted capital receipts
of £50m and may also result in the Council incurring future
revenue or capital expenditure to manage the land in the
future. 
 

2.                    
Continue to explore the option for development of a
Solar Farm on the land which may assist in potentially offsetting
the Council’s requirement to purchase carbon credits to the
value of £154,000 over a 20 year project life span. This option would
however fail to deliver a capital receipt to contribute towards the
£50M target agreed as part of the Financial Recovery Plan.
Further, the feasibility study undertaken suggested any positive
return was marginal at best when other external factors were
considered.
 
Details of any conflict of
interest declared by the Leader or lead councillors and any
dispensation granted:
None.