Decision details

To dispose of Warwick Place (a small piece of land that used to be highway) to North Place Developments Limited.

To dispose of Warwick Place (a small piece of land that used to be highway) to North Place Developments Limited.

The two adjoining land owners were interested in acquiring this land for their own perspective developments; they were considered ‘special purchasers’.

Whilst the Council own the land it is a burden, and due to various restrictions imposed on the land there is very limited capacity for the Council to bring it forward in any meaningful way. 

Due to the restrictions on the land, Warwick Place cannot easily be developed or built on. However, Warwick Place itself could be visually lifted by incorporating into adjoining land parcels. The interested parties demonstrated that they could bring something forward that would compliment the setting, benefit the townscape and take into account any restrictions on the land.

Both bidders were able to demonstrate via their submissions, that they would visually and sympathetically, improve Warwick Place. When considered in conjunction with their own aspirations for their own land, Warwick Place could create additionality, and betterment in ways that would complement the local area and fit well with our corporate objectives of Place and Growth, something the Council could not achieve in isolation.

The informal bidding process secured ‘best value’ for the Council and the land was offered to the highest bidder (subject to contract). Both bids were confidentially supplied and are commercially sensitive, so will be exempt and not publically available until the transaction has been completed.

Retain – this is not beneficial to the Council or the community as the land can only burden the Council, due to the restrictions that run with the land the Council are unable to bring it forward in any meaningful way.

Dispose on the open market – the ‘best value’ is generated in monetary terms to ‘special purchasers’ and in economic terms (community and growth) it should be used to facilitate growth and help underpin development. ‘Other buyers’ could have purchased the land to deliberately frustrate development of the adjoining land holdings to secure large financial rewards. The Council opted for a route to facilitate growth and development in-line with its corporate objectives.

Sell to a specifically selected party – to be open and transparent and fair, it seemed prudent to offer the opportunity of owning Warwick Place to both adjoining land owners and give them equal opportunity to secure the land through an informal tender process. This also helps the Council demonstrate that it has achieved ‘best value’.

Positive and in support of the recommendations.

Consultation was undertaken with relevant officers and members.