Issue details

This report seeks approval to delegate authority to the Director of Planning and Regeneration to enter into an Option Agreement with Welborne Land Limited for the disposal of residential property at Welborne Garden Village.  

At the Executive Meeting of 22 February 2016, authority was given for the purchase of two residential owner-occupied properties affected by the Welborne development.  On 06 February 2017, the Executive agreed the terms for the purchase of one further residential owner-occupied property affected by the Welborne development.

It was the Council’s expressed intention to sell the properties to the master developer of Welborne Garden Village at the appropriate time, to maximise their control of the land and simplify the mechanics of bringing the development forward.

This report outlines the draft terms of the Option Agreement for their disposal to support the delivery of Welborne Garden Village, which are being negotiated with Welborne Land Limited, and seeks approval to delegate authority to enter into the Agreement to the Director of Planning and Regeneration. In making this delegated decision, expert advice will be provided by both the Asset Management Service and Fareham & Southampton Legal Services.