Agenda item

To move that under Section 100(A)(4) of the Local Government Act 1972, the press and public be excluded from the meeting during the discussion of Appendix B, Item 6 on the grounds that it involves the likely disclosure of exempt information as defined in paragraph 3 of Part 1 of Schedule 12A of the said Act.

The Executive Member for Financial Sustainability presented the Capital Receipts Programme report and said that the report was seeking authority for greater flexibility to officers regarding the sale of the assets approved at the Executive meeting in October 2024, alongside a further set of proposals. He said that the disposal of these assets would mean the council could pay down more debt, reducing the interest burden on the council.

Councillor Brittain proposed that the recommendations in the report be supported. Councillor Hoskin seconded the proposal.

Councillor Deering referred to the proposal to dispose of the Southern Maltings site and asked for reassurance that the council had been advised on its value by independent external consultants.

The Interim Deputy Chief Executive said the value of the asset was in the exempt appendix and the valuations had been led by the property team which included qualified valuers and they sought advice when needed.

Councillor Deering said that there were different ways of valuing assets and being valued as an Arts Centre would have a bearing on its value, but a commercial site would have a different value.

The Interim Deputy Chief Executive said that the basis of the valuation was described in paragraph 3.2 of the report and the nature of the lease was a continued use of the building as a commercial arts centre and preserving it for continued community use.

Councillor Deering wondered whether it was an appropriate valuation when dealing with taxpayers’ money. He said there was a significant difference in the value of an arts centre and land that could be developed in a central location.

Councillor Brittain said he understand the point about a difference in valuation but there was a value to the community in having an arts centre. He said that Ware residents would probably rather see an arts centre in the community. Ware Town Council had expressed an interest in purchasing it and preserve as a community arts centre.

The motion to support the recommendations having been proposed and seconded was put to the meeting and upon a vote being taken, was declared CARRIED.

RESOLVED – that (A) the assets approved for disposal by the Executive at its meeting of 1st October 2024, as listed in paragraph 1.1, be sold by any means that will achieve best consideration for the council, with the decision on the means of disposal used for each site delegated to the Head of Housing, Health and Property;

(B)   Southern Maltings, Ware be let on a 99 year lease to Ware Town Council for the consideration in the EXEMPT Appendix B;

(C)   land at Hawthorn Close, Hertford be disposed of for best consideration, with authority to determine the means of disposal delegated to the Head of Housing, Health and Property;

(D)   land at Park Road, Ware be disposed of for best consideration, with authority to determine the means of disposal delegated to the Head of Housing, Health and Property;

(E)    the property at 34 Queen’s Road Ware be disposed of for best consideration with the receipt being recycled into the council’s commuted sums reserve for affordable housing and the authority to determine the means of disposal delegated to the Head of Housing, Health and Property.