The Committee considered a report seeking approval to adopt and implement a new Policy and procedure framework for the disposal of the Council’s land and property assets.  The proposed new policy was attached to the report at Appendix 1.

The report noted that it was best practice for the Council to adopt a formal policy for disposal of land and assets, so that the process was transparent.  The proposed Land and Property Assets Disposal Policy attached to the report at Appendix 1, would apply to all disposals of property held by the Council excluding residential properties within the Housing Revenue Account (HRA) (where Right to Buy rules would apply), statutory lease extensions and shared ownership disposals.  The policy would provide information about the Council’s approach to sales and lettings to commercial and third sector parties interested in using, leasing or buying Council property.

The report explained that the policy set out the methodology by which properties would be identified for disposal and what could be expected to happen next.  Assets would be reviewed on a cyclical basis or when service needs changed.  The policy also explained the Council’s legal obligation under Section 123 of the Local Government Act 1972, where the Council must obtain the best consideration reasonably obtainable when disposing of land and property.  It outlined the requirements where the Council wished to dispose land or property at undervalue, including the need to evidence that the disposal would promote economic, social or environmental wellbeing.  In addition the policy set out the disposal process and procedure, governance and responsibilities, and details of how bids would be evaluated.

Resolved –

That the Land & Property Asset Disposal Policy, as attached to the report at Appendix 1, be approved, adopted and implemented.