Decision details

The subject property fronts onto Lakeside Boulevard, extends to 7.12 acres and overlooks the lake.
The property has recently been actively marketed as a residential development site for sale by informal tender seeking offers by the closing date of 7th December 2018.
A schedule of the bids received contains exempt information which is not for publication under section 43 of the Freedom of Information Act 2000, because this is deemed as commercially sensitive information
A period of due diligence has been undertaken in order to assess each bid on a like for like basis with the top bidder being interviewed to assess their bid in more detail.
The bid from Keepmoat Homes is the highest offer received following the due diligence and detailed assessment. In addition the proposed scheme layout submitted by Keepmoat Homes had a strong design layout and is considered the most deliverable from a planning perspective of all the submissions.
The sale of this land was approved by Cabinet on 19th September 2017 as part of the General Fund Capital Receipts Programme (Cabinet Report 19th Sept 2017 Decision 2) and it has been agreed that the acceptance of offers can be approved by Officer Decision Record (ODR), signed by the Director of Regeneration and Environment (or representative) and the Council’s Section 151 Officer.
It should be noted that the bids are on a gross basis and are subject to various conditions. These offers are subject to deductions to be agreed in relation to any abnormal development costs, including those identified following an intrusive ground investigation and surveys required as part of any planning application.
The property will provide vital capital funding that will contribute significantly towards delivery of the Councils Capital Programme.

To proceed with the sale of Plot 6, Lakeside Boulevard to Keepmoat Homes Ltd, conditional upon planning permission and subject to deductions in connection with ground conditions and other abnormal development costs once identified.

There are two alternative options available to the Council and these are set out below:
Option 1 - Do nothing
This option has been rejected as the Council have been actively marketing the land and have received an offer that it wished to proceed with.
Option 2 - Remarket the site
Having received strong interest and a high number of bids it is believed that the preferred bid is best value and there is no market intelligence available to suggest that a further marketing of the site will achieve a higher sale price. This option would also involve additional Council marketing expenditure and would delay any capital receipt.