To agree to authorise the disposal of 50 Gibson Drive, Kings Hill, Maidstone, ME19 4AF and delegate authority to:
1. The Director of Infrastructure in consultation with the Deputy Leader and Cabinet Member for Finance, Corporate and Traded Services, tofinalise the contractual terms of the disposal.
2. The Director of Infrastructure to authorise the execution of necessary contractual and land agreements required to implement the above.
Reason for the decision:
Proposed property disposal in line with the Council’s statutory and fiduciary duties and over £1million which requires a key decision.
The freehold asset 50 Gibson Drive is a c.18,000 sq ft 2-storey building on a site of about 1.9 acres. This former laboratory/office building is currently being used by Kent County Council (KCC) for temporary furniture storage and other storage following the outbreak of the COVID-19 pandemic. It was last used as a laboratory and office building in 2016 when Sekisui Diagnostics (UK) Ltd (formerly Genzyme) terminated the lease. The site also includes parking for 51 cars.
This asset was declared surplus to KCC’s requirements and was subsequently identified for disposal. A comprehensive marketing exercise has been undertaken and the bidding process will be concluded in January 2022. Following which a preferred bidder will be identified with the transaction progressed to enable the disposal of the site.
A decision is sought to approve the disposal of the site and to delegate authority to the Director of Infrastructure to finalise the terms of the transaction and enable the disposal of the site.
How the proposed decision meets the objectives of ‘Increasing Opportunities, Improving Outcomes: Kent County Council’s Strategic Statement (2015-2020)’:
Decision type: Key
Reason Key: Expenditure or savings of more than £1m;
Decision status: For Determination
Division affected: Malling Rural East;
Notice of proposed decision first published: 21/12/2021
Anticipated restriction: Part exempt - View reasons
Explanation of anticipated restriction:
Reports may contain commercially sensitive information, which will be contained in a separate report or exempt appendix, exempt from publication under paragraph 3 of Schedule 12a of the Local Government Act 1972.
Decision due: Not before 19th Jan 2022 by Deputy Leader and Cabinet Member for Finance, Corporate and Traded Services
Lead director: Rebecca Spore
Contact: Alister Fawley, Principal Investment and Disposals Phone number 07703 289 855; E-mail: firstname.lastname@example.org email@example.com, Simon Hocken, Property Disposals Consultant firstname.lastname@example.org.
To be discussed at Policy and Resources Cabinet Committee, January 2022.
Financial implications: The sale of the property will result in a capital receipt for KCC which will be used to support the Council’s Capital Programme as set out in the Councils Medium Term Financial Plan. Revenue holding costs will also be reduced as this building is released from the Council’s portfolio.
Legal implications: The contract will be legally binding and will commit KCC to the eventual sale of the asset, subject to the terms of the contract. External legal advisors have been appointed to advise on the legal contract and documentation required.
Equalities implications: N/A