Issue - meetings

RESOLVED: 1)        That the disposal of this land asset be progressed along the lines set out within the report.

2)         That delegated authority be given to the Property Services Manager to finalise the terms of the proposed disposals set out within the report.

3)         That authority be granted to the Legal Services Manager to progress the necessary transfer, or any other associated, documentation through to completion.

Reason for Decision

The proposal set out within this report fits well with the vision for NORA and will provide the Borough Council with a sizeable capital receipt

Councillor Beales presented a report which explained that the Borough Council was the freehold owner of a parcel of land at the Nar Ouse Regeneration Area (NORA), King’s Lynn. The overall NORA site had been assembled and works had been undertaken to remediate and provide infrastructure in order to provide a supply of commercial, employment, retail, and residential development land.

The report set out the provisionally agreed terms for the proposed disposal of a parcel of land at NORA, and authority was sought from Cabinet to progress this disposal through to completion.

A discussion ensued on the potential benefits in the sale of the land for the Nora area and redevelopment of the existing premises of the purchasers.

The Regeneration and Development Panel had supported the proposals.

RESOLVED:   1)        That the disposal of this land asset be progressed along the lines set out within the report.

2)         That delegated authority be given to the Property Services Manager to finalise the terms of the proposed disposals set out within the report.

3)         That authority be granted to the Legal Services Manager to progress the necessary transfer, or any other associated, documentation through to completion.