Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: September 10, 2024

Purpose: Decision relating to offers received for the site.

Content: In the Cabinet Paper dated 12th December 2023 it was decided that King George V House in Amersham should be disposed of as it was now surplus to requirement. Knight Frank have acted as agent (selected through a tender process), and the site was marketed in April and May 2024. Initial bids were received and 10 of the 20 developers who submitted a bid were invited to a 2nd round of bidding. Best and Final offers were received. A full schedule of the offers received could be seen in the Confidential Appendix.   The site was within the Chiltern Beechwoods Special Area of Conservation zone of influence and therefore any development that resulted in additional homes would need to provide Suitable Alternative Natural Greenspace. The Council was currently negotiating on a potential solution for this, but it was not finalised. Any SANG credits not attributed to the KGVH disposal could be sold to other developers to release other housing sites and to realise capital receipt (amount to be determined).   The site currently occupied by Buckinghamshire Council’s King George V House former offices was an established employment location suitable for redevelopment. The Local Planning Authority was supportive in principle of brownfield development in existing town centres, which brought regeneration benefits to an area. The original planning permission for KGVH contained a condition that, despite the site having previously been residential, the site should be retained for employment use if it ceased to be used as a civic building. Any conversion of the site to residential would require a modification to this condition. Officers anticipated that applications from the buyer would be policy compliant, particularly in regards to affordable housing.   One representation was considered by Cabinet Members in exempt session.   RESOLVED -   That the offer detailed in the Confidential Annex which realises the best value for the site when taking into account delivery risk and net present value be accepted.  That authority be delegated to the Service Director of Commercial Property & Regeneration to negotiate Heads of Terms in line with the offer received and instruct Legal to deal with the conveyancing process through to completion.