Hampshire County Council

Executive Member, Policy & Resources Item

23 July 2004

Cranmore, London Road, Alton - Exchange of Trust Property

and Disposal

Report by the Director of Property, Business and Regulatory Services

(Summary of CONFIDENTIAL decision)

1

Summary

1.1

The following decisions are sought:

That approval be given to:

i)

an exchange of property between the County Council and the Eggar's Site Foundation Trust so that Cranmore, London Road, Alton, 0.14 hectares (0.35 acres) transfers to the County Council and part of Eggar's School premises 0.28 hectares (0.7 acres) transfer to the Trust at equal value;

ii)

the sale of Cranmore, London Road, Alton on the open market by the County Council;

iii)

the use of up to 100% of the capital receipt from Cranmore as a reinvestment project to construct a new sports hall at Eggar's School; and music, drama and teaching extensions at Amery Hill School, Alton;

iv)

a renewal of the existing temporary lease of Cranmore until the completion of its sale or a maximum of one year at a rent of £7,500 per annum;

v)

the Director of Property, Business and Regulatory Services (Head of Estates Practice) be authorised to settle the detailed terms and conditions of each transaction set out above.

2

Reason

2.1

This proposal enables the whole of the Eggar's School buildings area to be in the ownership of the Eggar's Site Foundation Trust and releases Cranmore, as a surplus asset, to be sold to achieve a capital receipt for reinvestment.

2.2

This decision supports the following Aims of the Corporate Strategy

Aim 1 - Maximising life opportunities by reinvesting the capital receipt from a surplus asset into improvement of local education services.

Aim 5 - Improving services by reinvesting the capital receipt from a surplus asset into improvement of local education services.

3

Other options considered and rejected

3.1

Resourcing the construction of the new sports hall from Education Capital Programme was rejected as this project does not have sufficient priority to attract such finance.

4

Conflicts of interest declared by the decision-maker or other Executive Member consulted

4.1

None

5

Dispensation granted by the Standards Committee

5.1

None

6

Reason(s) for the matter being dealt with if urgent

6.1

Not applicable

Approved by:

..........................

Date of decision:

.........................

Councillor T K Thornber