Issue - meetings

Appendix 2 to the report is in the private section of the agenda at Item 17.

The Cabinet Member for Finance, Growth and Investment introduced a report on the outcome of negotiations with the owner of New Enterprise House regarding the purchase of a strip of Council-owned land at the site.

It was noted that, following the redevelopment of New Enterprise House, the site owner had approached the Council to purchase the land which provide access to the ground floor units.  The strip of land measured approximately 960m² and was used for landscaping with a number of low rise planters, maintained by the Council.  The Cabinet Member referred to the financial implications detailed in an exempt appendix to the report, which set out the level of capital receipt that the Council would receive, based on an independent valuation, and the revenue saving associated with no longer being responsible for the maintenance of the land.

The Cabinet resolved to:

(i)  Approve the disposal of land at New Enterprise House, 149-151 High Road, Chadwell Health as shown edged red on the plan at Appendix 1 to the report, on the terms set out in Appendix 2 to the report; and

(ii)  Authorise the Chief Operating Officer, in consultation with the Cabinet Member for Finance, Growth and Investment and the Director of Law and Governance, to enter into all necessary agreements to facilitate the sale of the land to the owner of New Enterprise House.