Hampshire County Council

Executive Member for Policy and Resources Item 11 b

23 July 2008

Merton Rise, Basingstoke - Outcome of marketing of Phases 4a and 5

and overall project update

Report of the Acting Director of Property, Business and Regulatory Services

(Summary of an EXEMPT decision)

1

Summary

1.1

The following decisions are sought:

That:-

a) approval be given to proceed with the delivery options on Phase 2, with a view to reporting on progress at a later date;

b) the Acting Director of Property, Business and Regulatory Services (Interim Head of Estates) be authorised to select the preferred purchasers for sub-phases 4a and 5 Merton Rise, Basingstoke at the second stage of offers, which are due on 1 August 2008; and

c) the Acting Director of Property, Business and Regulatory (Interim Head of Estates) be authorised to proceed with an appropriate disposal strategy on each phase and to settle the detailed terms and conditions of sale, including any adjustment to the purchase price that may be agreed allowing for market conditions and following minor amendments to the scheme(s) of development.

2

Reason

2.1

The development of Phases 2, 4a and 5 will contribute to the Corporate Priorities of making Hampshire safer and more secure for all, maximising wellbeing and enhancing our quality of place through the securing of high-quality design of the built development and landscape areas.

3

Other options considered and rejected

3.1

This report seeks to accelerate the process of selecting purchasers due to the current declining property market. The alternative of reporting once the second stage submissions are evaluated, between August - October 2008, means significant delay and will create unnecessary risk. This alternative has therefore been rejected.

4

Conflicts of interest declared by the decision-maker or other Executive Member consulted - None

5

Dispensation granted by the Standards Committee - None

6

Reason(s) for the matter being dealt with if urgent - None