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It is recommended that:

The Head of Housing Development approves awarding a contract to
Stretton’s to undertake a full valuation of the three
Stoneleigh Road Car Parks (A, B and C), in accordance with Contract
Standing Orders (CSO) 11.01 and 11.02, for the value of
£8,500.

This valuation is required to support early viability work, inform
strategic decision making regarding redevelopment potential, and
ensure that upcoming feasibility and planning processes are
underpinned by accurate and independent market valuation
advice.

Reasons for the decision

Early viability work for the Stoneleigh Road
Car Parks (A, B and C) will include undertaking land valuations to
obtain an early steer on potential land appropriation values. These
valuations will inform the Council’s initial assessment of
development feasibility and support decision making regarding the
future delivery of new Council homes on the sites.

Alternative options considered

The Council could opt not to appoint this
consultant; however, this decision would adversely affect and
hinder the delivery of new council homes. Conducting this survey is
a mandatory requirement.