Decision details

The report will seek a decision on the disposal of 117 Newbridge Hill, Bath to Aequus.

This decision has been Called In on 18^th January 2021 by 9 Councillors for the following reasons:

•  the decision to dispose of the asset at nearly half a million pounds below market value, and on a non-competitive basis, is contrary to the interests of Council Taxpayers in B&NES

•  the case has not been made to justify the below market value disposal and so the asset should be listed on the open market, where it will fetch greater returns for the Council.

A meeting of the Corporate Policy Development & Scrutiny Panel will be convened to consider this within the 14 day deadline.

Call In outcome

On 8^th February 2021 the Corporate Policy Development & Scrutiny Panel met and decided to dismiss the Call In.

The Cabinet Member agrees to:

1.  Approve the disposal of 117 Newbridge Hill, Bath to ACL for £308k with the voluntary conditions detailed within this report;

2.  Authorise the Director of Economy & Growth to enter a Development Agreement with ACL for the redevelopment of the site into 6 apartments.

Disposal on the open market, and without restriction, is likely to result in the property being developed into a luxury single dwelling house, student or holiday lets.  The Council is therefore applying additional conditions, formally known as voluntary conditions, to ensure that the development meets the wider strategic aims of the Council as detailed in the covering report.

To sell the property on the open market.