Decision details

Concerning the sale of the k2(a) site. New, unbudgeted costs, recoverable from sale proceeds, have been identified.  Budget approval is sought

Budget Approval is given to:

·  the acquisition of the freehold land known as Abbots Wood, which will remove the right of way restriction in favour of the landowner, the Woodland Trust (WT)

·  a further sum to cover the additional disposal costs that were unforeseen

to enable the Contract to be completed releasing the sale proceeds and an additional premium payment as set out within the report.

Without incurring the additional up-front disposal costs and purchasing Abbots Wood, the Council cannot satisfy the condition relating to the various of the right of way.

Once the right of way is varied, the Council can complete the disposal to BDW which will release a total capital receipt.

The Council will be in a position to grant a drainage easement through the woodland which will remove any requirement for BDW to initiate a Wessex Water requisition.

Pay the Woodland Trust compensation to vary the right of way, plus accommodation works as part of a negotiated settlement.

Option to purchase the wood is the cheaper of the two options proposed and in addition, the Council will own the woodland as an asset.