Decision details

To consider the report of the Cabinet Member for Resources and Workforce Planning seeking approval for the sale of the land to a preferred bidder following the Informal tender marketing of the property.

On consideration of the report of the Cabinet Member for Resources, Leisure and Culture, Cabinet agreed the following:

(i)  To approve in principle the sale terms of the Studland Road to Raglan Housing Group Limited (Raglan) as detailed in appendix 2.

(ii)  To delegate authority to Head of Property and Procurement in consultation with the Cabinet member for Resources and Workforce Planning to agree detailed terms.

1.  The disposal of the Land at Studland Road to Raglan will generate a capital receipt from a surplus property asset which will be allocated to the general fund.

2.  The disposal will enable the redevelopment of the site for No31 new dwellings across the site to providing a net gain of No30 new homes, offering a mixture of apartments and houses.

3.  The site has previously been identified for disposal as part of the New Redbridge Primary School project, as detailed in the Cabinet Report dated 21 January 2007.

1.  Retain the site – rejected the site comprises a grounds maintenance depot which is longer utilised by the Council and a small section of land which is not required for the new Redbridge Primary School.

2.  Not proceed with any of the bids received – the offer detailed in appendix 2 represents Best Value.