Issue - decisions

Ingenium Parc - Proposed Development of Plot 1

16/06/2023 - Ingenium Parc - Proposed Development of Plot 1

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 approximately 3.24 hectares (8 acres) of land at Ingenium Parc, as shown on the appended plan (also previously circulated), by way of a long lease, subject to the grant of planning permission for the development of a distribution centre of approximately 59,250 square metres (circa 638,000 square feet).


The submitted report stated that Cabinet approved a proposal to dispose of 4.56 hectares (11.28 acres) of land at Ingenium Parc with associated infrastructure (Minute C199/Oct/22 refers); an exclusivity agreement was subsequently entered into with that developer; this proposal had now fallen away; and that the exclusivity agreement had been terminated.  A new proposal had been received from a different developer to purchase 3.24 hectares (8 acres) of land by way of a long lease, for the construction of a 59,250 square metres  (circa 638,000 square feet) distribution centre; the developer had an identified end user; on completion of the building, the leasehold interest would be sold to the occupier; and that the company would initially support up to 215 jobs with scope for increases in future.


It was reported that the developer would install an access road to adoptable standards on land owned by the Council; the cost of construction was included in the purchase price; the disposal would generate a capital receipt; and that the terms had been provisionally agreed with the proposed developer.


RESOLVED – (a)  That the disposal of approx. 3.24 hectares (8 acres) of land at Ingenium Parc by way of a long lease, be approved, on the terms as set out in Appendix B (Part III) of the submitted report.


(b)  That the Assistant Director, Economic Growth, be authorised, in consultation with the respective Portfolios Holders to agree terms in line with those as detailed in Appendix B (Part III) of the submitted report, and the Assistant Director, Law and Governance, be authorised to document the sale of the property accordingly and associated matters.


(c)  That the Tees Valley Combined Authorities interest in the site, be noted, and the Assistant Director of Economic Growth be authorised to reimburse their portion of any receipt, accordingly.


REASONS – (a)  To achieve development of Plot 1 and generate new income through business rates


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