Issue - meetings

Southbourne Crossroads has been declared surplus and was marketed for sale. This report seeks agreement of the sale price.

EXEMPT MINUTE

This item was restricted by virtue of paragraph(s) 3 of Part 1 of Schedule 12A of the Local Government Act 1972.

The Leader of the Council presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'N' to these Minutes in the Minute Book.

Cabinet were advised that Southbourne Crossroads has been declared surplus and was marketed for sale, and that extensive discussions between the potential developer and the Local Planning Authority have resulted in a much smaller scheme than was originally envisaged, which has in turn resulted in a reduced bid for the site. Further to this Members were informed that this report sets out the new sale price and requests approval to dispose of the site at that level.

RECOMMENDED that:-

(a)          the disposal of land for the revised price of £3.4m plus uplift if a development of more that 27,200ft2 NIA is achieved be approved; and

(b)          a delegation of authority to the Corporate Property Officer in consultation with the Section 151 Officer and the Monitoring Officer to finalise the detailed terms of the disposal be approved.

Voting: 9:0 (1 Abstention)

Portfolio Holder: Leader of the Council

This item was restricted by virtue of paragraph(s) 3 of Part 1 of Schedule 12A of the Local Government Act 1972.

The Leader of the Council presented a report, a copy of which had been circulated to each Member and a copy of which appears as Appendix 'N' to these Minutes in the Minute Book.

Cabinet were advised that Southbourne Crossroads has been declared surplus and was marketed for sale, and that the report sought agreement of the sale price.