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.
Decision type: Key
Decision status: Recommendations Approved
Notice of proposed decision first published: 31/12/2012
Decision due: October 2012 by Cabinet Member for Business Strategy, Performance & Health Reform
Department: Strategic & Corporate Services
Contact: Matt Hyland, Project Co-ordinator – Kings Hill Email: firstname.lastname@example.org.
Notify Members of the Council, particularly Local Members where the sites are located .KCC is required to secure best consideration
Aims and level(s) of consultation?
Inform Members of the long agreed and established strategy of the continued development of Kings Hill as a mixed use flagship development.
Start and finish dates of consultation?
Equalities Impact Assessment included in the consultation documentation?
Date of publication of consultation outcomes and updated Equalities Impact Assessment?
Has the matter already been discussed by a Cabinet Committee?
If not when will be it discussed by the Cabinet Committee and the date of the meeting?
Policy and resources Cabinet Committee September 2012
Is the matter referred to in your Business Plan or Medium Term Capital Programme?
The Kings Hill development and disposal strategy is referred to as Key Priority in the Annual Plan. However, by necessity there are no specific references to particular sites and the site within this decision.
Which Members and electoral Divisions are affected by this proposed decision?
Financial implications: Matthew Hyland, Kings Hill Project Coordinator, Regeneration and Economy, 01622 223423 email@example.com
Legal implications: 12/01954
Equalities implications: Yes. The proposal will unlock the regeneration of a KCC assets within the Kings Hill development partnership, provide new housing stock, as part of Bold Steps for Housing and provide significant income for KCC. The land transaction is likely to exceed £1 million.