Purpose

To seek approval to proceed with a long lease disposal of Braunstone Stable Block and Walled Garden, Braunstone Park Leicester, LE3 1HX on a one-to-one basis to the adjacent long lease holder of Winstanley House as a ‘Special Purchaser’ (as defined in the Council’s Constitution) for £375,000.

Decision

To approve the long lease disposal of Braunstone Stable Block and Walled Garden, Braunstone Park Leicester, LE3 1HX co-terminus with the adjacent Winstanley House on a one-to-one basis to The Parmar Collection Limited as a ‘Special Purchaser’ and the purchasers entering into simultaneous agreement for lease with Braunstone History Group for community purposes.

To advertise the proposed disposal of the Walled Gardens as part of a public open space notice and consider objections under Section 123 (2A) of the Local Government Act 1972 prior to completion of the lease.

It is to be noted that the City Barrister and Head of Standards, will prepare and execute all necessary documentation required. The Director of Estates and Building Services Division will agree the required detailed terms.

Reasons for the decision

To safeguard the Braunstone History Groups occupation and bring about refurbishment the property and reunification of Braunstone Stable Block with Winstanley House. It will facilitate inward investment, create employment opportunities and generate a Capital Lease Premium for the Council. (recommended option).