Purpose

It is recommended that Cabinet formally declares the assets surplus to operational requirements and approves the freehold sale of Rentwood, School Lane, Fetcham, KT22 9JX and 37 School Lane, Fetcham, KT22 9JX to the party, at the price and subject to the conditions, noted in the part 2 report.

Decision

RESOLVED:

1. That Cabinet declares the assets, outlined in this report, as formally surplus to operational requirements under the Council’s Constitution.

?

1. That Cabinet approves the freehold sale of Rentwood, School Lane, Fetcham, KT22 9JX and 37 School Lane, Fetcham, KT22 9JX to the party, at the price and subject to the conditions, noted in the part 2 report. The sale of 37 School Lane is conditional upon the simultaneous surrender of the headlease held over the asset by Halsey Garton Residential Ltd (HGR) which has been agreed by the HGR Board.

1. That Cabinet accepts?the surrender and approves?the?HGR?premium?for?the surrender of its?interest from the gross receipt?and?notes there?is debt aligned to this asset, with parties bearing their own costs and appointments of their own professional team.?

?

1. That Cabinet delegates authority to Deputy Chief Executive and Executive Director of Resources (s151 Officer) in consultation with the Director of Land and Property to finalise the transaction and enter into all associated legal agreements,?to include matters outlined in the part 2 report, in consultation with the Cabinet Member for Property, Waste and Infrastructure.?

1. That Cabinet notes that following review against the Section 24 Direction and General Consent guidance, this transaction is considered to fall outside the General Consent / exemption position for acquisitions and disposals. On this basis, specific Shadow Authority approval is required for this transaction.

REASONS FOR DECISIONS:

• Cabinet has previously endorsed rationalisation of the surplus estate and this report?follows an open market campaign for Rentwood and 37 School Lane, Fetcham.???

• The asset known as Rentwood is vacant and is subject to holding costs and will require significant capital expenditure to make it fit for occupation.

• The residential dwelling known as 37 School Lane was part of the first tranche of residential properties transferred by the Council to HGR on 9 February 2021. HGR has recommended it should be sold. The Council has no operational requirements for this property.

• The residential dwelling known as 37 School Lane has previously been declared surplus to operational requirements by the Council’s Strategic Investment Board (SIB) on 16 June 2025.

• Full status and proof of funding enquiries have been made of the purchaser as outlined in the part 2 report and the transaction is recommended as supporting best value obligations.???

• To enable the disposal to proceed, Cabinet is requested to formally declare the asset surplus to operational requirements under the Council’s Constitution.

(The decisions on this item can be called-in by the Resources and Performance Select Committee)