Agenda item

15.1

The Executive Director, Place submitted a report seeking approval from Cabinet in their capacity as the Graves Park Charity’s Trustees to declare Cobnar Cottage on Cobnar Road surplus to the Charity’s requirements. It is proposed to dispose of the freehold interest in Cobnar Cottage on the open market to obtain best market price for the Charity. This will result in a capital receipt to be reinvested by the Council, as Trustee of the Charity, in Graves Park in accordance with the objects of the charity. This will allow for the continued use of the premises.

15.2

RESOLVED: That Cabinet acting as Charity Trustees in accordance with the powers given to the Council as Trustee under the provisions contained in the Trusts of Land and Appointment of Trustees Act 1996 resolve to:-

(a)

declare Cobnar Cottage on Cobnar Road surplus to the Graves Park Charity’s requirements;

(b)

approve the freehold disposal of Cobnar Cottage;

(c)

authorises the Director of Capital and Major Projects to determine the best marketing strategy for the property in order to achieve the best price reasonably obtainable, having regard to the advice contained in the Surveyor’s Report and to take all necessary steps to market the property in accordance with that strategy;

(d)

authorises the Director of Capital and Major Projects to negotiate the terms of any sale and instruct the Director of Legal and Governance to prepare and complete all the necessary legal documentation in accordance with the agreed terms and Charity Commission requirements to conclude this disposal;

(e)

authorises the Director of Legal and Governance to contact the Charity Commission and take such steps and enter into such documents as required by the Charity Commission in order to give its consent to the disposal; and

(f)

authorises the Director of Capital and Major Projects or the Director of Legal and Governance to give public notice in accordance with Section 121 Charities Act 2011, in the local press, to notify people within the beneficial area of the proposal to dispose of the freehold interest in Cobnar Cottage, Cobnar Road.

15.3

Reasons for Decision

15.3.1

The disposal of this surplus property on the open market will convert a current liability into an asset for the benefit of the Charity and the local community. It will:

-       provide an opportunity for an investor to bring the dwelling back into use;

-       remove a long term maintenance liability in need of refurbishment;

-       generate a capital receipt for reinvestment back into the Park; and

-       achieve the best price reasonably obtainable.

15.4

Alternatives Considered and Rejected

15.4.1

The empty property is now surplus to the Council’s and Charity’s requirements and is incurring on-going maintenance and rating liabilities to the Charity. It is no longer possible to let/habit the property without significant investment and a full refurbishment.

15.5

Any Interest Declared or Dispensation Granted

None

15.6

Reason for Exemption if Public/Press Excluded During Consideration

None

15.7

Respective Director Responsible for Implementation

Simon Green, Executive Director, Place

15.8

Relevant Scrutiny and Policy Development Committee If Decision Called In

Economic and Environmental Wellbeing

15.1

The Executive Director, Place submitted a report seeking approval from Cabinet in their capacity as the Graves Park Charity’s Trustees to declare Cobnar Cottage on Cobnar Road surplus to the Charity’s requirements. It is proposed to dispose of the freehold interest in Cobnar Cottage on the open market to obtain best market price for the Charity. This will result in a capital receipt to be reinvested by the Council, as Trustee of the Charity, in Graves Park in accordance with the objects of the charity. This will allow for the continued use of the premises.

15.2

RESOLVED: That Cabinet acting as Charity Trustees in accordance with the powers given to the Council as Trustee under the provisions contained in the Trusts of Land and Appointment of Trustees Act 1996 resolve to:-

(a)

declare Cobnar Cottage on Cobnar Road surplus to the Graves Park Charity’s requirements;

(b)

approve the freehold disposal of Cobnar Cottage;

(c)

authorises the Director of Capital and Major Projects to determine the best marketing strategy for the property in order to achieve the best price reasonably obtainable, having regard to the advice contained in the Surveyor’s Report and to take all necessary steps to market the property in accordance with that strategy;

(d)

authorises the Director of Capital and Major Projects to negotiate the terms of any sale and instruct the Director of Legal and Governance to prepare and complete all the necessary legal documentation in accordance with the agreed terms and Charity Commission requirements to conclude this disposal;

(e)

authorises the Director of Legal and Governance to contact the Charity Commission and take such steps and enter into such documents as required by the Charity Commission in order to give its consent to the disposal; and

(f)

authorises the Director of Capital and Major Projects or the Director of Legal and Governance to give public notice in accordance with Section 121 Charities Act 2011, in the local press, to notify people within the beneficial area of the proposal to dispose of the freehold interest in Cobnar Cottage, Cobnar Road.

15.3

Reasons for Decision

15.3.1

The disposal of this surplus property on the open market will convert a current liability into an asset for the benefit of the Charity and the local community. It will:

-       provide an opportunity for an investor to bring the dwelling back into use;

-       remove a long term maintenance liability in need of refurbishment;

-       generate a capital receipt for reinvestment back into the Park; and

-       achieve the best price reasonably obtainable.

15.4

Alternatives Considered and Rejected

15.4.1

The empty property is now surplus to the Council’s and Charity’s requirements and is incurring on-going maintenance and rating liabilities to the Charity. It is no longer possible to let/habit the property without significant investment and a full refurbishment.