Decisions

The acquisition of a strategic site adjacent to Chesterfield railway station will support the Council to achieve its growth objectives and kick-start the delivery of the emerging HS2 Station Masterplan. The short-term availability of LEP grant funding allows the Council and its partners to work at a pace and scale which could not be supported by the Council’s own resources.

Cabinet Minute No. 116 (19/20):

“That the Executive Director, in consultation with the Cabinet Member for Economic Growth, be granted delegated authority to continue to negotiate the details of the heads of terms, in line with the due diligence advice, and, subject to satisfactory agreement, enter into a conditional contract leading to the acquisition and leasing of the specified land.”

1. That the proposed changes to the terms of the agreement that have been negotiated through the due diligence and further detailed negotiation process be noted.

2. That the Council enter into an unconditional contract leading to the acquisition and leasing of the specified land on the terms outlined in the former Cabinet report and briefing paper.

The property 29 Scarsdale Crescent was offered to the Council under the Right-of-first refusal.
The property has been surveyed by an asset management officer and no significant investment requirements were identified.
The Council's valuer viewed the property and advised an offer of £115,000.
The property represents value for money in in the Acquisitions Calculator.
The offer has been put to the vendors and a decision is pending.
Approved to seek to purchase the property has been given by Cllr Ludlow and Assistant Director of Housing.

Option 1 - To seek to purchase 29 Scarsdale Crescent, Brimington for £115,000 under the Right-of-First refusal

An offer for the property 66 Walton Drive was made to Redbrik estate agents who were acting on behalf of the vendor on Monday 9th September 2019. The property is a large three double bedroom former council property.
The offer was made after carrying out a survey and valuation of the property. The estimated value of the works required to the property is expected to be £10,000 to £12,000. The valuation estimated the refurbished value of as being £115,000 to £120,000.
An offer of £100,501 was made and accepted by the vendor and details of the legal contacts for each party have been exchanged.
The price agreed is over the limits within the current Strategic Acquisitions Policy (prior to amended Policy going to Cabinet in October 2019) as set out below:
•The maximum price payable for a property will not exceed £90,000 (to increase by inflation (now approximately £96,000))
Agreement is sought from Finance and Performance Board under the delegation:
Finance and Performance Board and Land Disposal Group
OFFICER DELEGATIONS: To the Chief Executive, an Executive Director or the Director of Finance and Resources:
G275D Notwithstanding any other delegations in Part 3, after consultation with members of the Finance and Performance Board to approve the acquisition and disposal of land of a value of up to or exceeding £250,000.
The purchase of the property will help meet the Council Plan Objective 2019-2023 to build or acquire a minimum of 100 new Council Homes by 2023.

To purchase 66 Walton Drive for £100,501