Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: October 8, 2024

Purpose:

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.