Purpose

To seek formal executive approval from the Leader of the Council to agree the final financial terms of sale for the freehold disposal of the former Pierremont Depot, Broadstairs, following an open market private treaty disposal process, securing statutory best consideration under Section 123 of the Local Government Act 1972.

Decision

The Leader agreed the following:

1. To agree sales terms for the freehold disposal of the former Pierremont Depot, Broadstairs (excluding the access road) to the highest competitive bidder (with a value exceeding £250,000). 
2. That authority be delegated to the Director of Place, in consultation with the Cabinet Member for Regeneration and Property, to finalise all legal documentation, and execute the land transfer.

Reasons for the decision

Cabinet agreed to the disposal of the former depot adjacent to Pierremont Park by way of private treaty at its meeting held on 25 September 2025.

Following this decision, the council advertised the opportunity and reviewed the submissions received.

Following open market exposure, the accepted bid represents the highest financial offer obtained. The terms satisfy Thanet District Council's statutory obligation under Section 123 of the Local Government Act 1972 to achieve "best consideration reasonably obtainable".

This decision to agree the final terms of the sale of this property was taken by the Leader of the Council following consultation with the Cabinet Member for Regeneration and Property.

Alternative options considered

Thanet District Council received two other bids for the site. Both were rejected because they were significantly less than the highest offer. Although one was accompanied by a schedule of potential non-monetary benefits for the council, when these were appraised, they could not be explicitly quantified in a way that linked back to the council’s statutory functions and were not sufficiently robust to justify acceptance of an offer of such significant undervalue.