Decision Maker: Cabinet Member for Business Strategy, Performance & Health Reform
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Kings Hill is one of KCC’s flagship mixed developments. It provides high quality and in some cases exemplar form of development and which importantly contributes towards bettering design standards.
KCC and its Kings Hill development partners, Liberty have committed to a long term calibrated and progressive development land disposal programme.
The Kings Hill development is a proven and essential regular income through annual distributions, generated by the effective disposal of residential development land.
It is proposed that KCC should agree the future disposal of the subject land parcel for best consideration, through a competitive tender basis. This will be orchestrated by KCC development partners, Liberty Property Trust UK.
Links to Bold Steps for Kent and corporate objectives
The decision directly links to the Council’s Medium Term Plan (Bold Steps for Kent) in that it aligns with:
Priority 8 - Responding to key regeneration challenges working with our partners by unlocking a key site within a growth point and which contributes to providing new homes and commercial opportunities at Kings Hill.
Priority 9 - Support new housing growth that is affordable, sustainable and with the appropriate infrastructure; and
Priority 10 – Deliver growth without gridlock.
The proposed decision relates to the long term agreed Master Plan and Strategy for Kings Hill and as part of the Council’s Policy Framework.
Impact/costs and risks of proposed decision
The proposed land sale will form an important part of the remaining unfinished areas of allocated housing development within Village 2. The land disposal will take place with the Partnership’s detailed planning permissions and will complete and improve the overall Kings Hill development. The tender process has been devised which minimises any the risks of abortive transactions (because of improved demand) and increases certainty for the Partnership/KCC and thereby optimises land values and income.
All risks will be fully considered through a diligent evaluation process when considering is made of the preferred bidder and brought for a decision.
The only direct costs for KCC are those charged by Legal Services in executing the transactions.
That Cabinet Member for Business Strategy Performance and Health Reform agree the sale and disposal of Development Area 57, Kings Hill in accordance with the terms set out in this report and delegate authority to the Director of Property and Infrastructure Support to enter into all necessary contracts and agreements on behalf of KCC to enable this
Publication date: 19/09/2012
Date of decision: 07/12/2012
Effective from: 15/12/2012