Purpose

Acquisition of land in Aylesbury

Content

The report recommended
acquisition of the freehold interest of Plot 1 of Phase 3 Gateway
land, Aylesbury (“Plot 1”) subject to survey, legal due
diligence and the simultaneous sale of Plot 2 of Phase 3 Gateway
land, Aylesbury (“Plot 2”) to a third party. The
proposed transaction provided the Council with control of all the
car park land in front of its Headquarters and also use of the site
in the short term as a car park whilst the Council reviews its
plans for its overall landholding in this part of Aylesbury.
 
Whilst the property transaction
did not generate revenue, it did ensure that Buckinghamshire
Council (“BC”) retained sufficient free car parking
spaces in front of its HQ building; it also completed land
ownership of a 5.2-acre site that offered medium term
“employment led” development potential. The acquisition
would enable a strategic and proactive approach to delivering a
more comprehensive scheme than simply on existing BC owned
land.
 
RESOLVED:-
 

That the Service
Director for Property and Assets, in consultation with the Cabinet
Member for Accessible Housing and Resources, the Section 151
Officer and the Service Director for Legal and Democratic Services,
be authorised to conclude negotiations, agree contracts, appoint
consultants and undertake due diligence, arrange finance, exchange
and complete on the acquisition of Plot 1 as set out in the Cabinet
report and the confidential appendix. 

 

That the
commitment of capital budget for this acquisition as a priority
investment opportunity be APPROVED, to be funded from known
headroom within the Capital Programme.