To agree the disposal of Lots 4 and 5 of Land and Buildings at Victoria Road/Park Crescent Road Margate CT9 1NB and delegate authority to:
1. The Director of Infrastructure, in consultation with the Deputy Leader and Cabinet Member for Finance, Corporate and Traded Services, to finalise the terms of the disposal; and
2. The Director of Infrastructure to authorise the execution of all necessary or desirable documentation required to implement the above
Reason for the decision
The property is surplus to the Council’s operational requirements and due to anticipated values, a key decision is required as per Kent County Council’s constitution.
The site comprises of Lots 4 (0.66 acres) and 5 (13.4 acres), as identified in the General Site Plan, of the former Royal School for the Deaf (RSD) site, which was purchased by Kent County Council for the construction of a new secondary school. Due to changes in demographic projections, the new school project has been cancelled. The entire site has now been declared surplus by the Council as it is no longer required for operational purposes.
The Council intends to progress with the disposal of the site in line with its adopted Freehold asset disposal policy.
Initial advice provided from agents regarding anticipated values, indicates that a key decision is required for the disposal of Lots 4 and 5.
A decision is sought to authorise disposal of the site and to delegate authority to the Director of Infrastructure to finalise the terms, subject to consultation with the relevant cabinet member.
The Council has an overarching duty under Section 123 of the Local Government Act 1972 to secure not less than best consideration in respect of property disposals. It also has a fiduciary duty to the residents of Kent.
The property is not required for the Council’s operational purposes or educational needs. Since becoming surplus to educational needs, alternative service needs were considered, but none identified. A disposal provides an opportunity to reinvest capital in agreed priorities, as set out in the Council’s Capital programme.
How the proposed decision supports the Interim Strategic Plan
By securing a capital receipt to fund the Capital programme and to streamline the Council’s property portfolio to achieve financial and efficiency benefits in line with appropriate policy.
Decision type: Key
Reason Key: Expenditure or savings of more than £1m;
Decision status: For Determination
Division affected: Margate;
Notice of proposed decision first published: 20/12/2022
Anticipated restriction: Part exempt - View reasons
Explanation of anticipated restriction:
Supporting documentation will include an exempt report which will contain information considered to be commercially sensitive in relation to the Council’s financial affairs
Decision due: Not before 18th Jan 2023 by Deputy Leader and Cabinet Member for Finance, Corporate and Traded Services
Reason: In order that the proposed decision can be published for a minimum of 28 days, in accordance with statutory requirements
Lead member: Deputy Leader and Cabinet Member for Finance, Corporate and Traded Services
Lead director: Rebecca Spore
Department: Strategic & Corporate Services
The proposed decision will be considered by the Policy and Resources Cabinet Committee on 18 January 2023.
Financial implications: The sale of the property will result in a capital receipt which will be reinvested back into the Council’s Capital programme. The disposal of the property will remove holding costs associated with the property easing pressure on revenue budgets.
Legal implications: External legal advisors have been appointed in consultation with General Counsel.
Equalities implications: An Equalities Impact Assessment will be conducted in connection with the proposed Key Decision and will be provided to the Cabinet Committee and Cabinet Member taking the decision. Data Protection implications As part of this approval process and in the handling of marketing and conveyancing of the site, data protection regulations will be observed.