Issue - items at meetings - Hove Park Depot disposal

Report of the Executive Director for Finance & Resources (copy attached).

That approval be given to the disposal, subject to planning permission, of land at Hove Park Depot as shown on the attached plan, on a 125 year lease at a peppercorn to the Bilingual Free School for the capital receipt identified in the confidential appendix to this report. 

That the detailed terms of the lease shall be settled by the Head of Property & Design and the Head of Law, in consultation (as appropriate) with the Executive Director of Children’s Services. and that the Head of Law is authorised to complete all of the necessary documentation.

15.1      The Committee considered a report of the Executive Director of Finance & Resources in relation to Hove Park Depot – Long Lease to School. The report sought to advise the Committee on the provision of a primary Bilingual Free School and to seek approval to the grant of a long leasehold interest at a premium.

15.2      Councillor Shanks welcomed the report and the additional funding that would be raised through the lease of the site. She noted that the school was currently doing very well, and she added that some recent concerns raised by residents had been looked into, but would not impact on the funding for the school.

15.3      The Chair then noted the Part 2 matters would be discussed when the meeting moved into closed session.

15.4      Following consideration of the information in closed session the Chair put the recommendations to the vote.

15.5      RESOLVED:

(1)          That approval be given to the disposal, subject to planning permission, of land at Hove Park Depot as shown on the attached plan, on a 125 year lease at a peppercorn to the Bilingual Free School for the capital receipt identified in the confidential appendix to this report.

(2)          That the detailed terms of the lease shall be settled by the Head of Property & Design and the Head of Law, in consultation (as appropriate) with the Executive Director of Children’s Services. and that the Head of Law is authorised to complete all of the necessary documentation.