The Executive Director of Regeneration and Director of Strategic Resources submitted a report which gave details on the offers received following the marketing of the residential development site known as Land off Trimdon Avenue.
The report stated that the site off Trimdon Avenue comprised of an area of land extending to some 1.36 hectares (3.36 acres) or thereabouts, which was owned by the Council. The site was suitable for residential development, and it was considered that a minimum of 40 dwellings could be developed on the site, with the site roads to be constructed by the developer.
The land had recently been marketed for sale by competitive tender via the NEPO procurement portal, and was supported by an advertising exercise. To aid prospective developers on the appropriate quality of development, a development brief was supplied to interested parties, to enable them to make their bids.
The report outlined that the closing date for receipt of tenders was Friday 25th May 2012. The offers that were received are set out in Part B of the report.
As a result of the tendering exercise, five bids were received. Following consideration of the offers, approval was being sought for the sale of the site to Bidder A.
That the Executive approves that the land off Trimdon Avenue, be sold to Bidder A.
That, should it be considered reasonable to make any further revision of the terms of sale as a result of further investigations carried out by the purchasers and any planning requirements, then the Director of Regeneration and Director of Resources be authorised to agree the changes.
The decisions were supported by the following reason:
In order to secure a capital receipt from the sale of the surplus land which will be reinvested back into the Councils capital programme.