Agenda item
ALDERSHOT REGENERATION - SITE ASSEMBLY
- Meeting of Cabinet, Tuesday, 8th January, 2019 7.00 pm (Item 71.)
- View the reasons why item 71. is restricted
To consider Exempt Report No. RP1901 (copy attached), which sets out matters regarding the acquisition of properties in relation to the regeneration of Aldershot town centre.
Presented By:Cllr Martin Tennant, Major Projects and Property Portfolio Holder
Minutes:
The Cabinet considered Exempt Report No. RP1901, which set out an update
on the Cabinet’s previously agreed approach to the acquisition of properties in
Aldershot town centre for reasons of regeneration.
The Report set out the latest position in relation to the assembly of
sites in the town centre to enable a comprehensive redevelopment scheme to be
brought forward. It was reported that good progress had been made to date in
this respect and that negotiations were in progress to acquire the remaining
properties. The Report referred to one particular property where meetings had
been held between the current owner, the Leader of the Council and the Chief
Executive, with a view to its acquisition by the Council. It was confirmed
that, following further negotiations, the asking price was likely to be within
the range set out in a recent valuation of the property. The Cabinet was
requested to agree an upper limit to enable the Chief Executive, in consultation
with the Major Projects and Property Portfolio Holder, to negotiate to acquire,
by agreement, the property. It was further requested that, in the event that
the acquisition was not possible by agreement, the Corporate Manager – Legal
Services, in consultation with the Chief Executive, should be authorised to
commence the compulsory purchase of the property, at the appropriate time.
In discussing this matter, the Cabinet considered this to be a key site
in the regeneration of Aldershot town centre. In answer to a question, it was
confirmed that external funding that had been secured in relation to the
regeneration of Aldershot town centre was at risk if there was delay to
delivery timescales. It was considered that a delay would be inevitable if the
Council opted to acquire the property through the compulsory purchase process.
The Chief Executive drew Members’ attention to the fact that the property had
been valued between £1.2 million and £2.6 million, depending on the assumptions
that were made. He also pointed out that, with reference to property values in
Aldershot, it was unlikely that the Council would realise a return on this
purchase and it was more probable that this would be written off as a
contribution to the regeneration of Aldershot town centre going forward. The
Cabinet expressed strong support for attempting to acquire the property by
agreement and agreed an upper negotiation limit.
The Cabinet RESOLVED that
(i)
an upper limit of £2.6 million
be approved, to allow the Chief Executive, in consultation with the Major
Projects and Property Portfolio Holder, to negotiate and acquire, by agreement,
the freehold of the property set out in Exempt Report No. RP1901;
(ii)
in the event that it was
not possible to agree an acquisition value within the agreed parameters, the
Corporate Manager – Legal Services, in consultation with the Chief Executive,
be authorised to take necessary steps to commence the compulsory purchase of
the property, at the appropriate time; and
(iii)
the requirement for a
future variation to the Capital Programme, to enable the acquisition of all
remaining properties set out in the Report, be noted.