Issue - meetings

Report of the Executive Director of Place

The Cabinet considered a report of the Executive Director of Place, which sought approval of the freehold disposal of land at Elms Field Farm and the surrender of the leasehold agreement.

A corresponding private report detailing the commercially confidential financial elements of the proposals was also submitted to the meeting and detailed in Minute 79 below.

Land at Elms Field Farm, Wigston Road, had been identified as a potential housing site in the Strategic Housing Land Assessment (SHLAA) and part previously in the Coventry Development Pan 2001. It extended to approximately 9 acres and could, subject to planning consent being granted provide up to 150 new homes.

Approximately 5 acres of the site was currently leased to a tenant farmer on a long lease for 99 years with effect from 1972. This lease had 56 years left to run.

For the Council to successfully bring forward this development site for housing, a surrender of the Lease from the tenant must be negotiated and agreed together with the termination of the short term grazing tenancy of adjoining land also held by the tenant.

The Cabinet noted that, if the Council were unable to reach an agreement with the tenant in respect of the land subject to the Lease then this would result in the land shown coloured blue on the plan appended to the report being “landlocked” and the Council would be unable to deal with access issues to this land. This land was an allocated housing site in the Coventry Development Plan 2001.

A surrender premium had been agreed between the Council and the tenant for the surrender of the Lease and this had been confirmed as representing open market value by external Chartered Surveyors appointed to advise the Council and the Council’s valuation panel. Completion of the surrender of the Lease and payment of the agreed surrender premium would be subject to the Council disposing of the freehold interest of the development site with planning permission by an agreed long stop date of 31st March 2017.

It was therefore proposed that the Council entered into a conditional surrender agreement with the tenant and prepares and submits an Outline Planning Application for residential development.

RESOLVED that the Cabinet:

1.  Authorise the Council to enter into an agreement for surrender with the tenant in respect of the Lease and subject to the successful freehold disposal of the development site to complete a deed of surrender and pay the agreed surrender premium.

2.  Approve the preparation and submission of an outline planning application for residential development of the land at Elms Field Farm, Wigston Road.

3.  Approve the marketing and disposal of the site by tender.

4.  Delegate authority to the Executive Director of Place in consultation with the Cabinet Member for Business, Enterprise & Employment, for any subsequent variation in terms. 

5.  Delegated authority to the Executive Director of Resources to prepare and complete the necessary documentation to facilitate the agreement for surrender and the freehold sale.