Purpose

Approve the freehold disposal of garden land
known as Land Adjoining Bridgellis, Orestan Lane, Effingham

Authorise the Joint Assistant Director for Assets and Property to
negotiate terms for a disposal of garden land known as Land Adjoing
Bridgellis, Orestan Lane, Effingham at best consideration and
subsequently enter into all relevant legal documentation required
to complete the sale in return for a capital receipt

Content

Decision:

(1)        
That the
freehold disposal of garden land Adjoining Bridgellis, Orestan
Lane, Effingham, be approved.

(2)        
That the
Joint Assistant Director for Assets and Property be authorised to
negotiate terms for a disposal of garden land Adjoining Bridgellis,
Orestan Lane, Effingham at best consideration and subsequently to
enter into all relevant legal documentation required to complete
the sale in return for a capital receipt.
Reason:
To
generate a capital receipt that will contribute towards the target
to secure £50 million (net) of capital receipts from the sale
of General Fund property assets, as set out in the Council’s
Financial Recovery Plan to reduce Council debt and achieve a
sustainable financial position. 
Other options considered and
rejected by the Executive:
To
retain the land within the Council’s ownership and continue
to licence it in its current use as garden land and receive an
income of £391 per annum.
Details of any conflict of
interest declared by the Leader or lead councillors and any
dispensation granted:
None.