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Decision details

Acquisition of Land as a Substitute Site in the Brownfield Acquisition Programme

Decision Maker: Leader of the Council

Decision status: Recommendations Approved

Is Key decision?: Yes

Purpose:

The report seeks authority to agree the purchase of a brownfield site, carry out improvement and management and then re-sell for development.

 

Decision:

Agreed:

 

1.    That the acquisition of the freehold interest in the site detailed in Appendix A be substituted for one of the sites previously identified in the Brownfield Acquisitions report (Stanley Tools, Rutland Road)

 

2.     That subject to the substitution being agreed that the Chief Property Officer in consultation with the Director of Legal and Governance be authorised to:

 

a)    Negotiate and agree terms for the acquisition of the site, set out in paragraph 3.5 of Appendix A subject to site investigation. Funding for the acquisition will be provided from the Corporate Investment Fund as identified within the Brownfield Acquisitions Cabinet Report dated 21 March 2018

 

b)    That funding is committed to for partial demolition, site management, site investigations, security and holding costs to facilitate the eventual re-development of the site as set out in para 1.8 of Appendix A.

 

c)    On acquisition that the Council seeks to immediately enter into an option agreement with a developer to purchase the site from the Council for price set out in Appendix A within 28 months and after obtaining planning permission to redevelop the site for circa 450 new homes.

 

3.That the Director of Legal and Governance be authorised to complete such legal documentation as she considers necessary or appropriate in connection with this transaction on such terms as she may agree to give effect to the proposals set out in this report and generally to protect the Council’s interests 

Reasons for the decision:

This provides an opportunity to implement the first phase of activity in the Council’s Housing Zone: North in line with the proposals set out in the bid for Housing Infrastructure Fund investment and supports other investment in transport infrastructure and place making planned for the location.  It will be a major step in bringing forward the next step in regeneration, moving on from Kelham into Neepsend and in support the Council’s housing growth requirements in the emerging local plan. housing. 

 

Alternative options considered:

The approach provides for the quickest return both for the original expenditure and for the development and regeneration of the site.  By linking the purchase to an option and timescale for an agreed price and together with sharing the site management costs, risk that acquisition costs are not recovered are minimised.

 

 

Publication date: 02/02/2021

Date of decision: 06/01/2021

Effective from: 09/02/2021

Accompanying Documents: