Purpose

Disposal of the freehold interest in Old Manor
House, East Horsley and generate a capital receipt to go to the
General Fund.

Content

Decision:
The Executive authorised the Executive Head for
Assets and Property to auction sale the property or negotiate terms
for a disposal at best consideration on the open market via private
treaty, and to enter into all relevant legal documentation required
to complete the transaction of the Council owned land comprising
Old Manor House in return for a capital receipt.
Reason(s):
To generate a capital receipt and remove void
property costs from future revenue budgets.
Other options considered and rejected by the
Executive:

1          Do
nothing – the Council retains the land and property in its
current state. The Council will continue to incur revenue costs
associated with owning and managing a large vacant property. The
value of the site may depreciate as it continues to fall into
disrepair.

2          Sell the
long leases – the Council sells the eight flats individually
on eight long leases for 125 years to persons of state pensionable
age at 50% less than the market value plus a further reduction to
reflect the inhabitable state of repair.

3          Transfer
the asset to the HRA – for use within the HRA housing
programme. The HRA has reviewed and assessed the property and has
deemed it unsuitable for HRA accommodation. The associated costs to
undertake the renovation, internal reconfiguration and energy
performance upgrades do not make the property viable for the HRA
and its ongoing housing programme.

4          Submit a
planning application, develop the site and sell – Due to a
lack of internal resource and the lengthy planning application
process due to its Grade II Listed status, the site is not
considered suitable for development by the General Fund.
Furthermore, the General Fund is not in a financial position to
undertake a redevelopment to put the property into a habitable
state of repair for occupational use.
Details of any conflict of interest declared by
the Leader or lead councillors and any dispensation
granted:
None.