Decision Maker: Babergh Cabinet

Outcome:

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: September 9, 2025

Purpose: To approve updated options appraisal and preferred way forward.

Content: It was RESOLVED: -   1.1         That Cabinet noted that the previous preferred bidder, resolved at 06 May 2025 Cabinet meeting, has now withdrawn their offer to purchase the land owned by the Council.   1.2         That Cabinet resolved to now sell the land parcel (approximate area of 1.17 acres) on the terms and basis of the bid identified as ‘Bid 1’ in Confidential Appendix A.   1.3         That Cabinet delegated its authority to the Director for Property, Development and Regeneration, in consultation with the Cabinet Member for Finance, Assets & Investments to negotiate the final terms of disposal, so as to ensure that a sale can be completed as soon as reasonably achievable, and as the best consideration reasonably obtainable.     REASON FOR DECISION   The Council could utilise the small employment land parcel it owns, via a market rate freehold disposal, to bring forward beneficial economic/social uses and create job opportunities in support of the local community of Hadleigh and surrounding area. It will also generate a capital receipt. The economic and viability context changed since previous decisions taken by the Council to self-develop a small light industrial starter unit scheme. A market value sale would now best achieve the Council’s current strategic priorities.   Alternative Options Considered and Rejected:   Do nothing: Cabinet resolved at its meeting of 09 September 2024 to proceed with its preferred option of selling the land. This would bring it into beneficial economic and employment uses for the local area and wider community.   Do not agree to sell to a preferred bidder: Not recommended. The Council would retain the plot and continue to incur asset management (including security and insurance costs) when already having resolved it is not economically viable for the Council to self-develop. Beneficial uses coming forward for the site would remain stalled.   Any Declarations of Interests Declared: None Any Dispensation Granted: None