Issue - meetings

          The Board considered a report of the Strategic Director, Children and Enterprise, on the development of the former Barge pub site at Castlefields and on the variation of the terms of disposal.

          The report provided details of the previously approved terms of disposal, changes that had occurred since then and a revised offer letter. Members were advised that the proposal supported the Borough’s Regeneration objectives and optimised the return from the disposal of property assets, whilst being in line with the Castlefields Masterplan.

Reason(s) for Decision

To dispose of surplus land at best value and to encourage sustainable housing investment in the Borough.

Alternative Options Considered and Rejected

The do nothing option would mean that the site remained unused for a further period of time, which would result in continued costs to the Council. To reject the revised offer and market the site to other developers would run the risk of delays and possibly no other interest. This option presented a significant opportunity to commence a first stage development of the site, which in turn would present a catalyst for future development of the Lakeside area of Castlefields and in due course Canalside on the north of the canal.

Implementation Date

Once approval was received and subject to planning and contract, the target date for a start on site was October 2013.

          RESOLVED: That

1)    the variation to the terms of disposal of approximately 5.9 acres or residential development land to Keepmoat Ltd be approved, subject to planning permission and subject to contract; and

2)    the Operational Director for Economy, Enterprise and Property, be authorised to arrange for all required documentation to be completed to the satisfaction of the Operational Director, Legal and Democratic Services.