Decision details

Sale of garage plots located at sites across the District.

·         Declare the garage sites set out in this report surplus, subject to achieving vacant possession with an agreed and reasonable timeframe.

·         Notify any tenant affected on a site by site basis through the SOPM.

·         Appoint an agent to offer the sites to the market on an ‘offers above £X’ basis – with X being the lower cost range of their red book valuation, and,

·         Authorise the (Strategic & Operational Property Manager) to accept offers for the garage sites where a written opinion of a suitably qualified Registered Valuer is obtained that confirms that the offer represents ‘market value’ such that the requirements of s123 of the Local Government Act 1972 would be satisfied if accepting any offer; rejecting any that cannot be so assured.

·         Work with existing tenants to relocate should the opportunity be available.

The Portfolio Holder reserves the right to withdraw any site from the market at any time.

Many of the garages in the Council’s portfolio have come to the end of their reasonable life. It is also recognised that several sites can no longer accept a modern width car, which has also impacted revenue collection and take up of rentals continues to drop as cars get bigger. The cost of maintenance and upkeep of the garage sites remains quite high and will only continue to add to the financial pressures as more garages need repairing or even demolishing. Garage rents isn’t a huge generator of revenue, which also means that any investment into these sites have a longer payback and viability is again impacted. On the plus side, land values are continually going up, so it is proactive of the Council to look to sell some plots with the view to reducing the portfolio and maintaining or refurbishing some sites where required. The cost of continued maintenance on unused land is also time poor and the land could be put to better use.

The option to sell selected sites from the portfolio to raise capital for the Council and to extinguish associated costs is recommended.

1. Do nothing and continue to maintain and repair for minimal overall return revenue

2. Invest in all the current sites but accept the ROI will be years and impact council finances

None