Issue details

The Entry Hill Depot Site does not offer an opportunity to develop for Residential Development in the short to medium term and therefore could be offered for sale or lease for employment use only in accordance with the local plan.
The proposal to delegate to the Head of Corporate Estate in consultation with the Head of Finance and Head of Legal Services the decision to sell to a single proposed purchaser subject to valuation by a third party without prior marketing of the site, the costs of which will be borne by the proposed purchaser whether the matter proceeds to completion or not. The rationale being that there are no alternative uses of higher value to which this land could be developed in the medium to long term, owing mostly to planning restrictions (albeit provisions to recover overage from the purchaser or their successors in title will be included in any sale contract). It is intended that the proposed purchaser will support the local economic growth through development for employment uses resulting in an estimated additional GVA of £1.4 million pa.