Decision Maker: Lewes District Council Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Consideration of the freehold disposal of Market Tower to Lewes Town Council.
(1) To agree in principle to the disposal of the freehold of Market Tower and 2 Fisher Street to Lewes Town Council.
(2) To delegate authority to the Director of Regeneration and Planning in consultation with the Chief Finance Officer and the Portfolio Holder for Regeneration and Growth to agree the final disposal terms subject to:
(i) a red book valuation undertaken by a qualified person for both assets, and
(ii) further legal due diligence and exploration of the potential for including restrictive covenants controlling the future use of the properties and overage clauses enabling the Council to share in any future increase in value in the properties realised after the properties have been sold. The scope of the delegation to the Director to include the potential for disposal at an under value in accordance with circular 06/03 where it is considered that this will help to secure the promotion or improvement of the economic, social or environmental well-being of the Council’s area.
(3) To authorise the Director of Regeneration and Planning on consultation with the Chief Finance Officer and the Portfolio Holder for Regeneration and Growth to undertake all actions required to complete the disposal of the properties above including authorising completion of legal documentation.
(4) To note that a further report will be submitted to Cabinet in the Autumn of 2019 setting out the Council’s approach and policy towards community assets.
Report author: Mark Langridge Kemp
Publication date: 03/07/2019
Date of decision: 01/07/2019
Decided at meeting: 01/07/2019 - Lewes District Council Cabinet
Effective from: 09/07/2019