Property Transactions
Additional documents:
Decision:
1. That the sale of the property as outlined on the attached plan to the submitted report extending to 6 ha (15 acres) be approved to the company detailed in the report, on an unconditional basis for a proposed residential development of 180 units.
2. That a variation in the agreed sale price, as outlined in paragraph 15 of the submitted report, to reflect possible changes and circumstances as a result of the ongoing sale process, be delegated to the Chief Property Officer, in consultation with the Cabinet Member for Business Services and Resident Experience and the Leader of the Council,
Reasons for Decisions:
In 2012, the Council signed a Statement of Intent with Reigate & Banstead Borough Council (R&BBC) in relation to the regeneration of the Preston Estate, part funded by the receipts from land sales by both authorities. The sale of the land is as a result of this initiative and was approved in principal at Cabinet in April 2012 where a forward capital contribution by Surrey County Council was provided towards the regeneration of the Preston Estate, in particular the re-provision of the Preston Youth and Leisure Centre. That decision was predicated on the sale receipts to the council of the De Burgh site, which was no longer required for service delivery nor capable of generating significant income, exceeding the capital contribution, and with the S106 monies from any sale further contributing to the regeneration programme.
Minutes:
Councillors Michael Gosling and Nicholas Harrison addressed Cabinet as the local members for the area and stated that despite a lot of work being undertaken around regeneration they felt some financial matters still required attention.
The Cabinet agreed that supporting the regeneration of Preston had been a significant commitment by Surrey County Council and that the Council would look carefully at requests for small amounts of funding to complete the work.
RESOLVED:
1. That the sale of the property as outlined on the attached plan to the submitted report extending to 6 ha (15 acres) be approved to the company detailed in the report, on an unconditional basis for a proposed residential development of 180 units.
2. That a variation in the agreed sale price, as outlined in paragraph 15 of the submitted report, to reflect possible changes and circumstances as a result of the ongoing sale process, be delegated to the Chief Property Officer, in consultation with the Cabinet Member for Business Services and Resident Experience and the Leader of the Council,
Reasons for Decisions:
In 2012, the Council signed a Statement of Intent with Reigate & Banstead Borough Council (R&BBC) in relation to the regeneration of the Preston Estate, part funded by the receipts from land sales by both authorities. The sale of the land is as a result of this initiative and was approved in principal at Cabinet in April 2012 where a forward capital contribution by Surrey County Council was provided towards the regeneration of the Preston Estate, in particular the re-provision of the Preston Youth and Leisure Centre. That decision was predicated on the sale receipts to the council of the De Burgh site, which was no longer required for service delivery nor capable of generating significant income, exceeding the capital contribution, and with the S106 monies from any sale further contributing to the regeneration programme.