Decision details

The Portfolio Holder for Asset Management & Economic Development presented a report concerning the proposed development of St John’s Road in Epping.

The Portfolio Holder reported that a number of expressions of interest were received following a joint marketing exercise for the combined site in 2013, agreed by Essex County Council, Epping Town Council and the District Council. In total, twelve bids from residential developers, two bids from care home operators and three mixed use bids were received. The Cabinet was updated on the analysis of those bids, the liaison that had taken place between the three Councils and their appointed agents, and it was proposed that joint negotiations be entered into with Frontier Estates as the preferred bidder. 

The Cabinet was informed the external agents had advised that in order to obtain a firm proposal from their recommended best offer then a fixed period of four weeks be given for further negotiations to explore in more detail the financial implications and community benefits of the proposed scheme. The outcome of the negotiations would be reported to the next available Cabinet meeting once they had been concluded.

The report was welcomed as an exciting and imaginative proposal for that part of Epping, which it was acknowledged had aroused great public interest. The Portfolio Holder was aware that the Citizens Advice Bureau was searching for new premises from which to base themselves from.

Decision:

(1)        That joint negotiations alongside Essex County Council and Epping Town Council be entered into with Frontier Estates as the preferred bidder for the combined site for a fixed period of four weeks; and

(2)        That the outcome of those negotiations be reported to the next available Cabinet following the conclusion of negotiations.

Reasons for Decision:

To maximise the financial and community benefits for all three Councils and local residents for the land in question.

Other Options Considered and Rejected:

To market all or parts of the site on an open tender basis and for the three Councils to consider the offers separately. However, this would run contrary to the partnership approach agreed by the three Councils.