Decision details

Executive considered the report of the Portfolio Holder – Economic Development which sought approval to purchase development land at Portland Drive, Shirebrook.

Moved by Councillor Liz Smyth and seconded by Councillor Duncan McGregor

RESOLVED – That-

(1)        Executive approve the purchase of the land at Portland Drive, Shirebrook up to the value of £165,000; and

(2)        Executive delegate authority to the Director of Development to agree the final purchase price and the remaining terms and conditions of the purchase and purchase agreement

(3)        It be recommended to Council that the scheme be added to the Capital Programme.

REASON FOR DECISION:

This represented an opportunity to pursue development opportunities within the district and to create a revenue income using capital money to develop commercial units.

OTHER OPTIONS CONSIDERED:

The option to not pursue the sale of the land was rejected because land was at a premium within the district, this was viable land and was available within the value band recommended by the Senior Valuer.  There was a demand for commercial properties in this location.

(Paragraph 3)

(Director of Development)