Purpose

Decision
 
The Deputy Leader and Cabinet
Member for Finance, Corporate and Traded Services
agrees:
 
1.         the
disposal of the property, Land at the Long Field, Quaker Lane,
Cranbrook, Kent; and
 
2.         to grant
an extension of time (if required) to the promotion agreement
relating to land adjoining Cranbrook Primary School, Carriers Road,
Cranbrook, dated 29th January 2020, or to enter into a new
promotion agreement with the same or a new developer
 
3.         delegate
authority to The Director of Infrastructure, in consultation with
the Deputy Leader and Cabinet Member for Finance, Corporate and
Traded Services, to finalise the terms of the extension of time to
the promotion agreement and disposal and execution of all necessary
or desirable documentation required to implement the
above.
 
Reason for the decision
 
The
property is surplus to the Council’s operational requirements
and due to its projected value, a key decision will be required as
per Kent County Council’s constitution.
 
Background
 
The property extends
to approximately 2 hectares, mainly comprising of grassland and was
last used as a highways depot; the site has been declared surplus
as it is no longer required for operational purposes.
 
In 2018 the site was
marketed for disposal and on 29 January 2019 Kent County Council
(KCC) entered into a promotion and option to purchase agreement
expiring 29 January 2025 with Heyworth Properties
Limited.
 
A planning application
(reference 23/03246) was submitted for a scheme comprising 34
residential units with a determination anticipated in quarter 4
(Q4) of 2024. Following the grant of a satisfactory planning
permission, Heyworth Properties Limited would either purchase the
property for development or it will market and sell to a third
party, paying a proportion of net sale receipts to KCC in
accordance with the terms of the agreement. It is expected that the
level of net sales receipts to KCC will be over the
£1m delegated threshold and will therefore require a
Key Decision.
 
Options (other options considered but
discarded)
Whilst under contract,
a decision not to perform under its terms would be possible,
however this would have legal and cost implications. The
recommendation therefore will be to perform under the contractual
agreement for the sale of the property unless it expires in the
meantime.
 
How the proposed decision supports the

Framing Kent's Future - Our
Council Strategy 2022-2026
 
This
decision supports Framing Kent’s Future as the disposal will,
along with other assets within its disposal programme, contribute
to the Council’s aim to become carbon neutral. It will also
release brownfield redevelopment opportunities, helping towards the
County’s housing targets.
 
How the proposed decision supports

Securing Kent’s Future 2022 -2026: Securing Kents Future -
Budget Recovery Strategy
 
This
decision supports Securing Kent’s Future 2022-2026 by
securing a capital receipt to invest in KCC’s priority
projects and programmes whilst also streamlining KCC’s
property portfolio, achieving financial and efficiency
benefits.
 

Decision

The Deputy Leader and Cabinet
Member for Finance, Corporate and Traded Services, to agree
to:
 

the disposal of the property, Land
at the Long Field, Quaker Lane, Cranbrook, Kent; and

to grant an extension of time (if
required) to the promotion agreement Relating to land adjoining
Cranbrook Primary School, Carriers Road, Cranbrook, dated 29th
January 2020, or to enter into a new promotion agreement with the
same or a new developer; and

delegate authority to The Director
of Infrastructure, in consultation with the Deputy Leader and
Cabinet Member for Finance, Corporate and Traded Services, to
finalise the terms of the extension of time to the promotion
agreement and disposal and execution of all necessary or desirable
documentation required to implement the above.