Agenda item

Report of the Chief Executive.

The Cabinet Member with the Resources Portfolio introduced the report of the Chief Executive (previously circulated) requesting that consideration be given to the disposal of land at Faverdale East Business Park, Darlington, as shown shaded grey on the plan attached at Appendix 1 (also previously circulated), subject to the grant of planning permission for development.

The submitted report stated that the Council owned land at Faverdale East Business Park which was available for inward investment/industrial development; a number of plots had been sold over the last few years; and that the remaining land available for sale and development totalled around 9.6 acres (as shown as plots 1, 2, 3 and 4 on the plan attached at Appendix 1).

It was also reported that in July 2019 Cabinet approved the sale of the plot shown hatched on the plan and this sale had now been completed.  A number of enquiries had been received recently and negotiations were ongoing with potential purchasers for plots 2, 3 and 4 and that the terms had been provisionally discussed, subject to abnormal development costs, but could not be finalised without some detailed work on the part of the purchasers to get proposed designs drawn up.

RESOLVED – (a)  That the sale of 9.6 acres of land at Faverdale East Business Park, as shown on the plan appended to the submitted report, be approved in principle with the Chief Executive’s Office being authorised to negotiate full terms in consultation with the Cabinet Member with the Resources Portfolio and with the terms being reported subsequently on the Schedule of Transactions.

(b)  That the Assistant Director Law and Governance be authorised to document sales accordingly.

REASONS – (a)  To achieve a capital receipt for the Council.

(b)  To assist business development and job creation in Darlington.