Decision details

The report recommended acquisition of the freehold interest of Plot 1 of Phase 3 Gateway land, Aylesbury (“Plot 1”) subject to survey, legal due diligence and the simultaneous sale of Plot 2 of Phase 3 Gateway land, Aylesbury (“Plot 2”) to a third party. The proposed transaction provided the Council with control of all the car park land in front of its Headquarters and also use of the site in the short term as a car park whilst the Council reviews its plans for its overall landholding in this part of Aylesbury.

Whilst the property transaction did not generate revenue, it did ensure that Buckinghamshire Council (“BC”) retained sufficient free car parking spaces in front of its HQ building; it also completed land ownership of a 5.2-acre site that offered medium term “employment led” development potential. The acquisition would enable a strategic and proactive approach to delivering a more comprehensive scheme than simply on existing BC owned land.

RESOLVED:-

1. That the Service Director for Property and Assets, in consultation with the Cabinet Member for Accessible Housing and Resources, the Section 151 Officer and the Service Director for Legal and Democratic Services, be authorised to conclude negotiations, agree contracts, appoint consultants and undertake due diligence, arrange finance, exchange and complete on the acquisition of Plot 1 as set out in the Cabinet report and the confidential appendix. 

2. That the commitment of capital budget for this acquisition as a priority investment opportunity be APPROVED, to be funded from known headroom within the Capital Programme.