Decision details

1. In October 2020 the Council Executive approved the use of existing resources to bring forward 8 small sites for disposal to individuals to design and build their own homes. Authority to accept offers was delegated to the Director of Place.

2. Chaloners Road and Dane Avenue are the first 2 of these 8 sites and comprise of a total of 5 self-build plots. The plots are currently on the market with offers received on 3 of 5 plots to date.

3. The decision has been taken that all offers received at or above the price set in the independent RICS valuation will be accepted.

Decision:
This decision is to authorise the acceptance of offers that have currently been made on self-build plots plus any further offers that are at or above the independent RICS valuation.

1) To accept any offers at or above asking price from a financially qualified bidder who will be building a home they intend to live in on all 5 self-build plots when these are received.

2) Reject the current offers on the plots and continue to market the plots them to see whether a higher capital receipt could be obtained.

Option 2 was rejected. While interest has been good in these plots there is no guarantee that higher offers would be received especially has the housing market is still uncertain.