Content

RESOLVED:

Cabinet delegated the authority to the Assistant
Director Assets and Environment, in consultation with the Director
of Communities and Opportunities, the Executive Director for
Finance as well as the Cabinet Members for Local Economy, Culture
and Tourism and Finance to dispose of the site known as Horizon
House and to enter into any documentation required to implement or
in connection with this disposal.
 
REASONS RESOLVED:
 

·      
It is sensible for the Council to review its estate
and ensure that it delivers best overall value, taking policy and
financial considerations together, for the residents of West
Northamptonshire

·      
To comply with the obligation on the Council to
obtain the best consideration reasonably obtainable in a freehold
land disposal

·      
To generate a capital receipt in the short
term

·      
To facilitate investment into Northampton town
centre.

·      
In support of regeneration initiatives creating 120
jobs.

·      
Horizon House is allocated within the Local Plan for
a commercial and employment development.
 
ALTERNATIVE OPTIONS:

1.    
If Cabinet chooses not to proceed with the disposal,
the opportunity for inward investment into Northampton town centre
would potentially be lost. The Company is in need of a site to
accommodate their expansion in order to meet their employees and
operational needs. There are limited sites available within the
town that meet their requirements which could result in them
leaving the town all together.

2.    
The Council could look to bring the initial scheme
forward for workshop space for those in the creative and cultural
industries however this would require capital funding, and it would
still result in the loss of investment into the town by the
Company.

3.    
The Council could look to bring the initial scheme
forward for workshop space for those in the creative and cultural
industries however this would require capital funding, and it would
still result in the loss of investment into the town by the
Company.

4.    
The Council also choose to do nothing with the site
and leave it to sit derelict. This would mean that no development
would take place on the site and the Horizon House building would
continue to decline and fall into a worse state of
disrepair.

5.    
The Council could also choose to put the land on the
open market and seek a receipt that way. This would mean that while
a potentially higher value could be achieved, the interest from the
Company may be lost. The offer from the Company is also in line
with the valuation the Council has for the site.