Decision details

The Portfolio Holder for Finance & Economic Development presented a report on the acquisition of adjoining properties to the proposed Pyrles Lane Nursery development.

The Portfolio Holder advised the Cabinet that purchasing the property at 79 Pyrles Lane and the strip of garden from the neighbouring property at 77 Pyrles Lane would give the Council more flexibility with the highway design, which might prove more attractive to prospective purchasers and would allow the Council to control the occupancy of 79 Pyrles Lane whilst the construction works were carried out. It was anticipated that the Council would incur no or minimal loss on the re-sale of 79 Pyrles Lane. The Portfolio Holder added that the cost of moving the Nursery currently at Pyrles Lane to an alternative site would be considered by the Cabinet in due course. It was agreed that the purchase of the property at 79 Pyrles Lane in Loughton would be a good investment for the Council, regardless of the outcome of the proposed development at Pyrles Lane. Both purchases would require the agreement of a supplementary capital estimate by the Council.

Decision:

(1)        That, in order to help facilitate the sale of the Pyrles Lane Nursery site for residential development, a supplementary capital estimate on terms to be reported by the Portfolio Holder for Finance & Economic Development to purchase 79 Pyrles Lane in Loughton be recommended to the Council for approval; and

(2)        That, to also help facilitate the sale of the Pyrles Lane Nursery site for residential development, a supplementary capital estimate on terms to be reported by the Portfolio Holder for Finance & Economic Development  to purchase a strip of garden from 77 Pyrles Lane in Loughton be recommended to the Council for approval.

Reasons for Decision:

To facilitate the sale of the site at Pyrles Lane with the benefit of planning permission for residential development.

Other Options Considered and Rejected:

To not purchase 79 Pyrles Lane and land from 77 Pyrles Lane and proceed with a planning application having a 4.1metre access width, which might prove less attractive to a potential developer.