Decision details

The Executive Member for Finance submitted a report seeking consent for the sale of land and buildings at South Street and Riverside Walk, Bishop’s Stortford, to Portland Place plc on the terms set out in the report now submitted.

The properties had been identified as surplus to requirements and had been marketed resulting in the offers now detailed in the report submitted. 

In response to a question by Councillor T Page on whether a professional valuation had been sought, the Executive Member for Finance commented that the properties had been marketed by a commercial agent and the offers received were detailed in the report.  He suggested that actual testing in the market provided a best possible valuation.  The Executive Member undertook to provide in writing, the nominal value of the properties as listed for accounting purposes.

In response to a question by Councillor T Page on whether the proposed decision, if taken, would compromise Members at Development Management Committee when the planning application was submitted, the Leader stated that this issue had been considered by the Executive.  The Executive Member for Community Safety and Environment, as the only Executive Member who was also a member of the Development Management Committee, would have to be mindful of his obligations when this matter came forward for determination.

The Executive approved the proposal now detailed.

RESOLVED - that subject to the purchaser receiving planning consent for development, 39 & 39b South Street and the former public conveniences at Riverside Walk be sold to Portland Place Plc for the sum detailed in the report submitted.