Agenda item

(a)  That the disposal of land at Ledgers Road to SRP for a sum that represents no less than the best value valuation be authorised.

(b)  That authority to agree the final valuation sum be delegated to the Assistant Director, Assets Infrastructure & Regeneration, following consultation with the Leader and the Council’s Section 151 Officer.

(c)  That authority be delegated to the Assistant Director Assets, Infrastructure and Regeneration, following consultation with the Cabinet Member for Neighbourhoods & Renewal, to approve the non-financial terms for disposal.

The Head of Asset Management introduced a report which sought approval to dispose of land at Ledgers Road, formerly the Town Hall annexe, to Slough Regeneration Partnership (SRP) to commence a 73 unit housing development.

Commissioners were informed that the scheme had been approved by the Planning Committee last year and comprised 50 units for sale and 23 would be acquired by the Council for social rent.  Independent surveyors had been appointed and the valuation in excess of £3m was confirmed as not being less than best value.  The Cabinet welcomed the work that had been done in bringing the site forward to provide much needed housing whilst achieving good value from the land asset.  It was agreed to dispose of the site to the SRP with delegation of the final valuation sum and non-financial matters following consultation with the relevant Commissioners.

Resolved –

(a)  That the disposal of land at Ledgers Road to SRP for a sum that represents no less than the best value valuation be authorised.

(b)  That authority to agree the final valuation sum be delegated to the Assistant Director, Assets Infrastructure & Regeneration, following consultation with the Leader and the Council’s Section 151 Officer.

(c)  That authority be delegated to the Assistant Director Assets, Infrastructure and Regeneration, following consultation with the Cabinet Member for Neighbourhoods & Renewal, to approve the non-financial terms for disposal.