Kings Hill is one of KCC’s flagship mixed developments. It provides high quality and in some cases exemplar form of development, 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 bid basis. This will be facilitated by KCC’s 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 based on the Partnership’s preferred design and conditional upon detailed planning permission and will ensure a comprehensive and effective design solution with adjacent development of area 64, to help complete and improve the overall Kings Hill Village 2 development. The sale process will be devised to minimise many of 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 consideration is made of the preferred developer/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
Anticipated restriction: Part exempt - View reasons
Explanation of anticipated restriction:
It is likely that the proposed sale price and potential purchaser will be exempt from publication until the decision is finalised, in order that any transaction is not compromised. This information wil be contained within a seperate exempt report, all other available information will be for publication including the record of decision
Department: Strategic & Corporate Services
Contact: Matt Hyland, Project Coordinator - East Kent Opportunities LLP Tel: 01622 223423 e-mail: matt.hyland@kent.gov.uk matt.hyland@kent.gov.uk.
Consultation process
N/a
Consultees
Consultation
All members of the council will be notified, particularly Local Members when a site is considered for disposal as part of the Kings Hill strategy and a decision is to be taken.
As well as information regarding the site to be considered Members will also be informed of the long agreed and established strategy of the continued development of Kings Hill as a mixed use flagship development.
The matter has been considered and the proposed disposal endorsed by the Policy and Resources Cabinet Committee in September 2012. To read the report click on the link below
https://democracy.kent.gov.uk/documents/s34235/Item%20B6%20-%20Area%2062%20Report.pdf
To read the minutes click on the link below:
Furthermore the Kings Hill development and disposal strategy is referred to as a Key Priority in the Annual Plan.
Local Member - Matthew Balfour
Financial implications: Matthew Hyland, Kings Hill Project Coordinator, Regeneration and Economy, 01622 223423 - matt.hyland@kent.gov.uk
Legal implications: 12/01956
Equalities implications: Yes. The proposal will unlock the regeneration of a KCC asset 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.