Decision details

Decision:

(1)         That the freehold disposal of Land to the rear of 4 Middle Farm Close, Effingham, be approved.

(2)         That the Joint Assistant Director for Assets and Property be authorised to negotiate terms for a disposal of Land to the rear of 4 Middle Farm Close, Effingham at best consideration and subsequently to enter into all relevant legal documentation required to complete the sale in return for a capital receipt.

Reason:

To generate a capital receipt that will contribute towards the target to secure £50 million (net) of capital receipts from the sale of General Fund property assets, as set out in the Council’s Financial Recovery Plan to reduce Council debt and achieve a sustainable financial position. 

Other options considered and rejected by the Executive:

To retain the land to the rear of 4 Middle Farm Close within the Council’s ownership and continue to include this land as part of Home Farm.

Details of any conflict of interest declared by the Leader or lead councillors and any dispensation granted:

None.