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Enabling the development of Community Assets - Market Tower and 2 Fisher Street

Meeting: 01/07/2019 - Lewes District Council Cabinet (Item 19)

19 Enabling the development of Community Assets - Market Tower, Lewes and 2 Fisher Street, Lewes pdf icon PDF 20 KB

Report of Director of Regeneration and Planning

Lead Cabinet member: Councillor Joe Miller

Decision:

(Key decision):

 

(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.

Minutes:

The Cabinet considered the report of the Director of Regeneration and Planning seeking a decision about the future of two assets within Lewes – Market Tower and 2 Fisher Street and to outline the rationale for developing a Community Assets Policy for the Council.

 

A report would be considered by Cabinet in autumn 2019, outlining a community asset policy and the Council’s approach to future decisions about community assets as it progressed the Asset Challenge process. The policy would provide flexibility to consider all options regarding assets and not just disposal.

 

In response to a question from visiting member, Councillor Nicholson, the Director of Regeneration and Planning confirmed that the resolutions below protected the assets detailed in the report against being sold for commercial use.

 

Resolved (Key decision):

 

(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 would 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, in 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 would be submitted to Cabinet in the autumn of 2019 setting out the Council’s approach and policy towards community assets.

 

Reason for decisions:

 

To provide community groups and Town and Parish councils the ability to manage their own estate therefore enhancing the opportunity for them to achieve inward investment and development whilst relieving pressure on the Council’s limited resource.