Issue - meetings

The Corporate Director, Economy and Place, to present a report which seeks approval for the sale of the former Older Persons’ Home at Willow House to the highest bidder.

Resolved:  (i)      That the sale of Willow House to Cavendish and Gloucester Properties Ltd., as the highest bidder, be approved.

                   (ii)      That Bidder 3 be retained as a reserve bidder and, should Cavendish and Gloucester Properties Ltd. fail to complete the purchase of Willow House, that Willow House be sold to Bidder 3.

Reason:     To achieve the best consideration for the Willow House site, and facilitate investment in the Older Persons Accommodation Programme.

The Assistant Director, Regeneration and Asset Management, presented a report which sought approval for the sale of the former Older Persons’ Home at Willow House to the highest bidder.

The proposal followed the withdrawal of a previous bid by Empiric PLC, as reported to the Executive (Calling-In) meeting on 23 November 2017 (Minute 15 of that meeting refers).  Bidders had been asked to submit their best and final offers by 19 December.  Five bids had been received, as detailed in Annex 2 to the report and listed in exempt Annex 3.

The highest bid, at £2,750k, was from Cavendish and Gloucester Ltd., who proposed to convert the existing 2-storey building to a 3-storey development of 36 residential apartments, retaining the mature Corsican pine tree.  The second highest bid involved the felling of the tree.  The third highest bid would leave the tree in place and was only £3k lower than the second.  It was therefore proposed to retain Bidder 3 as a reserve bidder should the first bid fail.

In response to comments made under Public Participation, Officers confirmed that retaining all the trees on site was a matter to be dealt with under the Planning process rather than by covenant.  Members agreed that future decisions on disposal of land should take into account any relevant issues of community use.

Resolved:  (i)      That the sale of Willow House to Cavendish and Gloucester Properties Ltd., as the highest bidder, be approved.

                   (ii)      That Bidder 3 be retained as a reserve bidder and, should Cavendish and Gloucester Properties Ltd. fail to complete the purchase of Willow House, that Willow House be sold to Bidder 3.

Reason:     To achieve the best consideration for the Willow House site, and facilitate investment in the Older Persons Accommodation Programme.