Decision Details

Report of Strategic Director Place, Prosperity and Sustainability

Title formerly Disposal of 8 no. sites to Registered Providers

Approval from Cabinet Committee - Property to sell below sites:

 Bromford Lane

Cadine Gardens

Clissold Street

Illeybrook Square

Key Hill

Olton Boulevard West

Partons Road

The combined sale of the sites will generate more than £500,000 revenue.

 The sites are spread across multiple wards.

On 28 March 2024, Cabinet Committee – Property:-

1. agreed to the freehold disposal of the sites listed in Appendix 1 to a developer as detailed in Exempt Appendix 2;
   
   
2. Approved the principle that the General Fund sites will be sold unconditionally after a period of due diligence from the developer, and the Housing Revenue Account sites will be sold conditional on planning;
   
   
3. Noted the land assets have been identified for sale from both the Council’s General Fund and Housing Revenue Account (HRA) to provide affordable housing across the city, with the Council retaining Nomination Rights for those on its housing register. General Fund receipts will be paid into the General Fund (minus disposal costs) and HRA receipts will be paid into the HRA;
   
   
4. Delegated authority to the Strategic Director for Place, Prosperity, and Sustainability (or their delegate), the Interim Director of Finance (s151 Officer), (or their delegate), and the Interim City Solicitor & Monitoring Officer (or their delegate) to approve any non-material variance to the terms in this approval and to agree the final terms of the Sale Agreement;
   
   
5. Noted that the purchaser will engage with the local community and Ward members via the planning approval process;
   
   
6. Authorised the Interim City Solicitor and Monitoring Officer to prepare, execute, and complete all relevant legal documentation to give effect to the above.

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