Purpose

This report seeks
approval to the disposal of the former Foxfield School site to
Lovell Partnerships. The report follows an
a earlier decision by Cabinet to the sale and also follows
the recommendations from a marketing exercise by appointed property
agents.

Decision

The Director of
Regeneration and Place approves the sale of the former Foxfield
school site to Lovell Partnerships for £2,600,000.

Reasons for the decision

The sale will generate
a capital receipt and will also help in the delivery of housing
targets.

Alternative options considered

The Council could
decide to re-market the site or withdraw it from sale.  This is not recommended as to do so would result
in a failure to realise a significant capital receipt.