Sale of embankment land between Foxwood Industrial Park and Dunston Road, Chesterfield (G260L)
Decision:
2.1 That Cabinet Member approves the provisionally agreed sale of the subject land to Datim Ltd, the adjoining owner.
2.2 That the Property Procurement and Contracts Law Manager be granted delegated authority to agree any late amendments to the transaction documents.
3.0 Reason for recommendations
3.1 The sale will realise a capital receipt together with payment of the Council’s professional fees. The receipt will be credited to the General Fund.
3.2 The sale will relieve the Council of the potential liabilities and maintenance costs associated with holding a non-operational asset. The land no longer serves any purpose as a buffer strip and has limited development potential as a stand-alone site.
3.3 The sale will support the business expansion plans of a long-established skilled manufacturing company, potentially generating 20 to 30 new jobs at its Chesterfield factory and headquarters. This is in addition to the current staff level of 65 employees who will benefit from the proposals to expand the existing premises.