Decision details

To advise the Leader of progress on the disposal of land at Upper Hanover Street since a decision was made by Cabinet in October 2006 and to seek rescission of that decision in order to progress the sale.

That the Leader:-

(a)  agrees to rescind the Cabinet decision of 11 October 2006 that “authority be given to progress Phase 1 as a disposal at market value, under the authority delegated to the Head of Corporate Property and the City Property Manager, with the development having regard to the Masterplan vision, and the receipt earmarked for filling-in the underpass beneath Hanover Way as now reported”;

(b)  authorises the disposal of the land initially to BM Development Services Limited, and secondly to Mr Merricks if BM Development Services fail to exchange by 31^st January or complete by conditional dates set out in the contract; and

(c)  if neither party has exchanged contracts by the end of January or alternatively if contracts have been exchanged but the disposal has not completed by the conditional date contained in the contract, authorises the Chief Property Officer to dispose of the site on the open market.

The recommendations in the report will achieve best consideration for the Council under Section 123 of the Local Government Act.

The Council could proceed with the offer from Mr Merricks in accordance with the 2006 Cabinet decision, but the alternative offer should be considered under the Council’s approved Disposals Framework Policy.

Both offers could be declined and the site put to the market. This option has been rejected in the first instance as both offers incorporate the adjacent land / property and will generate higher values and/or a more comprehensive scheme.