Request for authority to dispose of surplus site

Report: 9
Date: 21 September 2006
By: Commissioner

Summary

This report requests authority for the disposal of the surplus site as referenced in exempt Appendix 1 be delegated to the Director of Property Services and the Clerk and Chief Executive of the MPA.

A. Recommendations

That

1. authority be given to the Director of Property Services and the Clerk and Chief Executive of the MPA to dispose of the MPA's interest in the property referenced in exempt Appendix 1; and
2. that the disposal be reported back to the MPA via the regular Estates update report to the Finance Committee post completion.

B. Supporting information

1. The subject property was earmarked for disposal in 2005/06 and following a formal marketing campaign, Finance Committee approval was given to dispose of the property to the highest bidder.

2. The sale subsequently fell through some months later due to planning issues and by that stage the under-bidder was no longer in a position to proceed with the purchase. As a result and to ensure best value, the site was re-marketed.

3. Bids have been received and due to commercial opportunities, authority is requested to enable the Director of Property Services and the Chief Executive and Clerk of the Authority to proceed with the disposal of this property to the highest bidder without further referral.

C. Legal implications

1. Apart from normal property contract matters there are no specific legal implications to report save as noted below.

2. Appropriate clawback provisions will be put in place to protect the Authority.

D. Race and equality impact

1. There are no equality or diversity issues arising as a result of this disposal.

2. The local planning authority is under a duty to consider such matters when assessing planning applications for the site. In the event of residential redevelopment of the site, the provision of key worker or social housing accommodation at this site will need to meet the requirements of the local planning authority, as and when granting planning consent for development.

E. Financial implications

1. The proceeds of this transaction have been included in the Property Services’ Capital Receipts’ budget 2006/2007. This disposal is not limited to a specific Asset Management Plan so there are no direct effects on existing acquisition/construction programmes.

2. A forward-sale clawback clause will be agreed, to enable the MPA to benefit in the event that the purchaser sells on at a price in excess of that paid to the MPA.

F. Background papers

None

G. Contact details

Report author: Alan Croney – Director of Property Services, MPS

For more information contact:

MPA general: 020 7202 0202
Media enquiries: 020 7202 0217/18

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