Part exempt report and appendix attached.

Declared the following assets as surplus to the Council’s operational requirements:

?         Former Century Youth House, Albert Road, Romford, RM1 2PS

?           Scotts Primary School House, 2 Bonington Road, Hornchurch, RM12 6TH

?           Newtons School House, Lowen Road, Rainham, RM13 8GL

?           Heather Avenue Workshop, 45 Heather Avenue, Romford RM1 4SU

?           Former Petersfield Avenue Depot, Harold Hill RM3 9PR

•         Agreed to the disposal of the assets identified within Appendix A, noting that the decision to dispose of car park assets is provisional at this stage and is subject to public consultation relating to the required modification of Traffic Management Orders relating to those sites, the outcome of which will be reported back to Cabinet upon completion.

•         Agreed that the larger sites will be sold to Mercury Land Holdings Limited, where identified within Appendix A.

•         Agreed to the disposal of the remaining assets within Appendix A by way of auction.

•         Agreed the award of contract for pre-disposal services at the cost of up to £800,000 to Mercury Land Holdings, associated with the assets listed in Appendix A.

•         Delegated authority to the Director of Asset Management in consultation with the Deputy Director of Legal and Democratic Services to conduct all appropriate steps to progress and conclude the 2022/23 asset disposals in a manner that satisfies all legal/regulatory requirements. This delegation to include the terms for any interim lease-back of operational assets and/or subsequent buy-back of assets not subsequently progressed by Mercury Land Holdings.

•         Delegated authority to the Director of Asset Management in consultation with the Lead Member for Development & Regeneration to agree appropriate reserve values for those assets proceeding to auction.

•         Authorised the Assistant Director of Public Realm to proceed with the process for the modification of Traffic Management Orders in respect of those car parks listed in Appendix A.

•         Noted the further reports will follow, linked to Council’s Capital Strategy, to seek formal Cabinet approval for the disposal of specific assets within the subsequent 4 years of the asset disposal programme. Declare the following assets as surplus to the Council’s operational requirements:

?   Former Century Youth House, Albert Road, Romford, RM1 2PS

^?     Scotts Primary School House, 2 Bonington Road, Hornchurch, RM12 6TH

?   Newtons School House, Lowen Road, Rainham, RM13 8GL

?   Heather Avenue Workshop, 45 Heather Avenue, Romford RM1 4SU

?   Former Petersfield Avenue Depot, Harold Hill RM3 9PR

·     Agreed to the disposal of the assets identified within Appendix A, noting that the  decision to dispose of car park assets is provisional at this stage and is subject to public consultation relating to the required modification of Traffic Management Orders relating to those sites, the outcome of which will be reported back to Cabinet upon completion.

·     Agreed that the larger sites will be sold to Mercury Land Holdings Limited, where identified within Appendix A.

·     Agreed to the disposal of the remaining assets within Appendix A by way of auction.

·     Agreed the award of contract for pre-disposal services at the cost of up to £800,000 toMercury Land Holdings, associated with the assets listed in Appendix A.

·     Delegated authority to the Director of Asset Management in consultation with the Deputy  Director of Legal and Democratic Services to conduct all appropriate steps to progress and conclude the 2022/23 asset disposals in a manner that satisfies all legal/regulatory requirements. This delegation to include the terms for any interim lease-back of operational assets and/or subsequent buy-back of assets not subsequently progressed by Mercury Land Holdings.

·     Delegated authority to the Director of Asset Management in consultation with the Lead Member for Development & Regeneration to agree appropriate reserve values for those assets proceeding to auction.

·     Authorised the Assistant Director of Public Realm to proceed with the process for the modification of Traffic Management Orders in respect of those car parks listed in Appendix A.

·     Noted the further reports will follow, linked to Council’s Capital Strategy, to seek formal Cabinet approval for the disposal of specific assets within the subsequent 4 years of the asset disposal programme.

Cabinet was presented with the Asset Disposal Programme 2022-2028

Report introduced by Councillor Graham Williamson.

This report considers the adoption of a medium-term asset disposal programme, as an integral part of the Council’s wider Capital Strategy.

The proposed programme will span 2023/28 albeit the focus of this paper is upon the initial phase of disposals intended for completion by March 2024. Proposals for asset disposals within the subsequent 4 years will be the subject of further reports as part of the broader Capital Strategy updates to Cabinet.

It was confirmed that the Council would be able to demonstrate that open market value (OMV) has been achieved for each sale. Reserve prices would be set by officers  in advance of any auctions.

The Cabinet agreed the following:

1.     Declared the following assets as surplus to the Council’s operational requirements:

•         Former Century Youth House, Albert Road, Romford, RM1 2PS

•         Scotts Primary School House, 2 Bonington Road, Hornchurch, RM12 6TH

•         Newtons School House, Lowen Road, Rainham, RM13 8GL

•         Heather Avenue Workshop, 45 Heather Avenue, Romford RM1 4SU

•         Former Petersfield Avenue Depot, Harold Hill RM3 9PR

2.     Agreed to the disposal of the assets identified within Appendix A, noting that the decision to dispose of car park assets is provisional at this stage and is subject to public consultation relating to the required modification of Traffic Management Orders relating to those sites, the outcome of which will be reported back to Cabinet upon completion.

3.     Agreed that the larger sites will be sold to Mercury Land Holdings Limited, where identified within Appendix A.

4.     Agreed to the disposal of the remaining assets within Appendix A by way of auction.

5.     Agreed the award of contract for pre-disposal services at the cost of up to £800,000 to Mercury Land Holdings, associated with the assets listed in Appendix A.

6.     Delegated authority to the Director of Asset Management in consultation with the Deputy Director of Legal and Democratic Services to conduct all appropriate steps to progress and conclude the 2022/23 asset disposals in a manner that satisfies all legal/regulatory requirements. This delegation to include the terms for any interim lease-back of operational assets and/or subsequent buy-back of assets not subsequently progressed by Mercury Land Holdings.

7.     Delegated authority to the Director of Asset Management in consultation with the Lead Member for Development & Regeneration to agree appropriate reserve values for those assets proceeding to auction.

8.     Authorised the Assistant Director of Public Realm to proceed with the process for the modification of Traffic Management Orders in respect of those car parks listed in Appendix A.

9.     Noted the further reports will follow, linked to Council’s Capital Strategy, to seek formal Cabinet approval for the disposal of specific assets within the subsequent 4 years of the asset disposal programme. Declare the following assets as surplus to the Council’s operational requirements:

•        Former Century Youth House, Albert Road, Romford, RM1 2PS

^•            Scotts Primary School House, 2 Bonington Road, Hornchurch, RM12 6TH

•        Newtons School House, Lowen Road, Rainham, RM13 8GL

•        Heather Avenue Workshop, 45 Heather Avenue, Romford RM1 4SU

•        Former Petersfield Avenue Depot, Harold Hill RM3 9PR

10.Agreed to the disposal of the assets identified within Appendix A, noting that the decision to dispose of car park assets is provisional at this stage and is subject to public consultation relating to the required modification of Traffic Management Orders relating to those sites, the outcome of which will be reported back to Cabinet upon completion.

11.Agreed that the larger sites will be sold to Mercury Land Holdings Limited, where identified within Appendix A.

12.Agreed to the disposal of the remaining assets within Appendix A by way of auction.

13.Agreed the award of contract for pre-disposal services at the cost of up to £800,000 toMercury Land Holdings, associated with the assets listed in Appendix A.

14.Delegated authority to the Director of Asset Management in consultation with the Deputy Director of Legal and Democratic Services to conduct all appropriate steps to progress and conclude the 2022/23 asset disposals in a manner that satisfies all legal/regulatory requirements. This delegation to include the terms for any interim lease-back of operational assets and/or subsequent buy-back of assets not subsequently progressed by Mercury Land Holdings.

15.Delegated authority to the Director of Asset Management in consultation with the Lead Member for Development & Regeneration to agree appropriate reserve values for those assets proceeding to auction.

16.Authorised the Assistant Director of Public Realm to proceed with the process for the modification of Traffic Management Orders in respect of those car parks listed in Appendix A.

17.Noted the further reports will follow, linked to Council’s Capital Strategy, to seek formal Cabinet approval for the disposal of specific assets within the subsequent 4 years of the asset disposal programme.