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.    

2.1    That Cabinet Member approves the agreed sale price for the Council’s interest on the terms set out in this report.

2.2    That the Property Procurement and Contracts Law Manager be granted delegated authority to agree any late amendments to the sale.

3.0    Reason for recommendations

3.1    The Council’s interest is subject to a long-term ground lease that does not provide for a rent review and therefore has no opportunity for rental growth for the remained of the lease term.

3.2    A sale will realise a capital receipt based on the marriage value of the Council’s interest and the leaseholders’ interest together with payment of the Council’s professional fees. The receipt will be credited to the General Fund Account.

2.1    That Cabinet Member approves a 999-year leasehold (virtual freehold) transfer at the agreed price / premium on the terms set out in this report.

2.2    That the Property Procurement and Contracts Law Manager be granted delegated authority to agree any late amendments to the transaction.

3.0    Reason for recommendations

3.1    This report is pursuant to a review of the two Council owned car parks in 2017. The car parks, and public conveniences located to the frontage of Duke Street, generate no income for the Council and are a maintenance liability in terms of repair and management. As a condition of sale the car parks will continue to provide some parking for residents and a disabled WC facility, without the burden of its running costs being met by the Council.

3.2    The proposed sale will realise a capital receipt together with payment of the Council’s professional fees. The receipt will be credited to the General Fund Account.

1.1    It is recommended that the Cabinet Member for Economic Growth approves the right of way over the land shown shaded yellow on the attached plan for a fee of £1000 plus costs of £500.

1.2    The Property Procurement and Contracts Law Manager be granted delegated authority to agree any late amendments.

2.0    Reason for recommendations

2.1    A possessory title claim could take several months to complete. In order to speed the matter up and obtain a capital receipt for the Council we have negotiated a £1,000 fee together with legal fees of £500 + VAT being payable to grant right of way.