Agenda item

This report seeks approval to dispose of three surplus General Fund property interests. The proposed disposals are necessary to reduce financial pressures, mitigate increasing asset liabilities, and support strategic priorities outlined in the Council’s Property Strategy 2024–27 and Medium-Term Financial Strategy (MTFS).

Cabinet RESOLVED

(1)       To delegate authority to the Corporate Director of Neighbourhoods and Regeneration, in consultation with the relevant Lead Member, to:

(a)       Determine the most suitable disposal strategy for each property listed in this report, including the method of sale, timing, marketing approach, and disposal structure, taking account of the Council’s Property Strategy, market conditions, and the goal of achieving the best consideration.

(b)       Agree on the final terms of each disposal, ensuring compliance with the Council’s statutory obligation to obtain the best consideration reasonably obtainable, and that the terms serve the Council’s overall financial and strategic interests.

(c)        Enter into and finalise all necessary legal agreements, contracts, and ancillary documentation required to give effect to the disposals.

(2)       To note that the net capital receipts, after deducting disposal and associated costs, would be retained within the General Fund and used in accordance with the Council’s Medium Term Financial Strategy and Capital Programme, as outlined in the Financial Implications section of the report.

(3)       Where the land to be disposed of constitutes, or forms part of, public open space, to delegate authority to the Corporate Director of Neighbourhoods and Regeneration to publish notices in a local newspaper for two consecutive weeks in accordance with section 123(2A) of the Local Government Act 1972, and to consider any objections received prior to a final decision being made.

Eligible for call-in: Yes

Deadline for submission of call-in: 6pm on Monday 16 February 2026

Councillor Benea (Cabinet Member for Regeneration, Planning & Property) introduced a report from the Corporate Director Neighbourhood & Regeneration seeking approval to dispose of three surplus council owned General Fund property interests identified as necessary to reduce financial pressures, mitigate increasing asset liabilities, and support strategic priorities outlined in the Council’s Property Strategy 2024–27 and Medium-Term Financial Strategy (MTFS).

In presenting the report, Councillor Benea began by highlighting what she regarded as the prudent nature of the proposed disposals as a means of supporting the Council in being able to manage its resources responsibly, given the properties identified were either underused, vacant, or no longer required for council services, and in some cases continued to generate significant costs without delivering any demonstrable public benefit.  Given the need to ensure every council asset was working in the interests of residents and maximising value, recognising the sustained nature of financial pressures being experienced by the Council, members were advised that the disposal of unproductive properties would not only allow the Council to reduce ongoing liabilities but also release capital that could be reinvested in other priorities and protecting services, supporting housing and regeneration, and strengthening the council’s financial resilience.

As further assurance, members were advised that the proposals were fully aligned with the Council’s Property Strategy and Medium-Term Financial Strategy with any capital receipts generated to be retained within the General Fund and used in line with agreed plans to support long-term investments with officers being delegated authority to determine the most appropriate disposal strategy for each property, ensuring the council was able to meet its statutory duty to maximise best value and respond appropriately to market conditions.

In recognising and welcoming the prudent and responsible nature of the approach outlined as a means of ensuing the best use of Council resources in a way that would not only secure value for money but also enable council assets to actively contribute towards the provision of wider support and investment in key services for residents Cabinet, having noted the exempt information contained within the appendix to the report, RESOLVED:

(1)       To delegate authority to the Corporate Director of Neighbourhoods and Regeneration, in consultation with the relevant Lead Member, to:

(a)       Determine the most suitable disposal strategy for each property listed in this report, including the method of sale, timing, marketing approach, and disposal structure, taking account of the Council’s Property Strategy, market conditions, and the goal of achieving the best consideration.

(b)       Agree on the final terms of each disposal, ensuring compliance with the Council’s statutory obligation to obtain the best consideration reasonably obtainable, and that the terms serve the Council’s overall financial and strategic interests.

(c)       Enter into and finalise all necessary legal agreements, contracts, and ancillary documentation required to give effect to the disposals.

(2)       To note that the net capital receipts, after deducting disposal and associated costs, would be retained within the General Fund and used in accordance with the Council’s Medium Term Financial Strategy and Capital Programme, as outlined in the Financial Implications section of the report.

(3)    Where the land to be disposed of constitutes, or forms part of, public open space, to delegate authority to the Corporate Director of Neighbourhoods and Regeneration to publish notices in a local newspaper for two consecutive weeks in accordance with section 123(2A) of the Local Government Act 1972, and to consider any objections received prior to a final decision being made.