Decision details

RESOLVED: The Cabinet agreed to the disposal of the site to County Developments (Northampton) Limited and Northampton Town Football Club Limited as outlined in Appendix A subject to:

a)    The expiration of the Assets of Community Value moratorium period.

b)    Agreement from Homes England as required.

c)    The Assistant Director Assets and Environment in consultation with the Director of Legal and Democratic Services and the Portfolio Holder for Finance being satisfied that all necessary steps have been taken to proceed with the disposal.

REASONS RESOLVED: 

1.    To ensure that the Council complies with its legal obligations under the Localism Act 2011.

2.    To meet the Council's obligations to seek best consideration in relation to land disposals, as set out in the report.

3.    In addition to achieve a number of wider benefits considered to be in the interests of the Council and the community in its area:

·         Generate a substantial capital receipt in the short to medium term (anticipated before the end of 2022).

·         Greatly assist in regularising the complex ownership position that exists on site:

·         Most immediately in relation to the HWRC site (which would be held by the Council free from any lease to CDNL) and the other retained land.

·         Also (at a later stage) in relation to the running track land if this was repurchased by WNC (as the relevant lease would be surrendered as part of the deal with CDNL).

·         Remove the risks of legal challenges from CDNL to the Council’s ability to break the Main Site Lease and the potential costs to the Council associated with that.

·         Increase the likelihood that the East Stand would be completed.

·         In the event that the East Stand was not completed, secure the return of the Running Track land to the Council’s freehold ownership with very little further cost (a price of £1 with associated legal and other transactional costs).

·         Making it likely the land will be developed, in line with the Council’s planning policies and the aims of the Northampton Waterside Enterprise Zone.

ALTERNATIVE OPTIONS:

None of the alternative options previously identified appeared preferable, whether on purely financial or on wider policy terms, to accepting the CDNL offer.