Issue - items at meetings - Patcham Court Farm site – Long leasehold disposal for commercial development.

Report of the Strategic Director, Resources (copy attached).

(1)         That Cabinet approves:

(a)       The disposal of the site to Bidder A on a long lease of 125 years at a premium for a mixed hotel and office development subject to planning.

(b)       Continuing discussions with Bidder B or any of the other bidders, or other parties which may come forward, in the event that the terms are not concluded.

(2)         That Cabinet notes the letter of 17 February 2011 from DMH Stallard.

171.1          The Cabinet considered a report of the Strategic Director, Resources concerning bids for the disposal of Patcham Court Farm Site, following re-marketing by the appointed agents.

171.2          The Chairman reported that a letter had been received at 11.30am that day with regard to the proposed disposal and that is was necessary to note the recommendations and move into the Part Two private session to continue the debate.

171.3          The Head of Law confirmed that the contents of the letter would need to be taken into account when the recommendations were voted upon and that is was therefore necessary to move into Part Two.

171.4          Councillor Theobald stated that he was pleased to see progress in relation to the site and that a hotel development was appropriate for the site.

171.5          RESOLVED – That, having considered the information and the reasons set out in the report, the Cabinet accepted the following recommendations:

(1)         That approval be given for:

(a)       The disposal of the site to Bidder A on a long lease of 125 years at a premium for a mixed hotel and office development subject to planning.

(b)       Continuing discussions with Bidder B or any of the other bidders, or other parties which may come forward, in the event that the terms are not concluded.

Note:      Following the Part Two debate the Cabinet agreed the recommendations within the report as detailed above and that the Part Two resolution (which was identical to the Part One recommendations) be included in the public part of the minutes.