Decision Maker: Executive

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: October 16, 2025

Purpose: To consider additional information on the disposal of vacant housing land to ThamesWey for the Yellow phase of the regeneration project along with an update on the disposal of remaining development parcels and confirm agreement to proceed with both transfers.

Content: The Executive Resolved That  (i)    in response to the HRA Forensic Review reported to Council on 25 September 2025, the Council transfers the vacant Housing land for Yellow phase of the Sheerwater regeneration project to ThamesWey Developments Limited for the revised sum of £3,029,811 (comprising £2,504,511 debt value, plus the reimbursement of £525,300 of costs incurred by the HRA in compensating tenants);           (ii)   it be confirmed that the remaining three development land parcels should be sold freehold to the selected bidder as previously approved by the Executive on the 14 November 2024 in the light of the additional information included within the Exempt Part 2 Report; and           (iii)  authority be delegated to the Strategic Director - Communities, in consultation with the Portfolio Holder for Housing and the Director of Legal and Democratic Services, to take all necessary steps to effect the recommendations in (i) and (ii), including entering into any necessary legal documents. Reason: To support the continued delivery of the Council’s vision for the Sheerwater regeneration, but on a smaller scale and with less reliance on public funds.