Decision details

Decision:

(1)         That the freehold disposal of garden land Adjoining Bridgellis, Orestan Lane, Effingham, be approved.

(2)         That the Joint Assistant Director for Assets and Property be authorised to negotiate terms for a disposal of garden land Adjoining Bridgellis, Orestan Lane, 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 within the Council’s ownership and continue to licence it in its current use as garden land and receive an income of £391 per annum.

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

None.