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V28-386 : FREEHOLD SALE - SITE CORNER OF COOKE ROAD AND BARLEY WAY

SOUTH LOWESTOFT INDUSTRIAL ESTATE

The report of the Director of Central Services outlined an application from Mr Harber, the existing lease holder, to purchase the freehold in the above site. Under existing policy approval had usually been given where the sale offered benefits to the local economy.

The applicant had stated that he had a long term commitment to the site and a desire to see it improved and fully utilised in the medium to long term future. He wished to own the freehold interest to enable him to justify release of capital funds for his building projects specifically in relation to the roof covering and the general tidiness of the site. There was a high proportion of employees already on site but Mr Harber was fully committed to improving this ratio when opportunity arose.

The applicant had agreed the sale price of £28,100 recommended by the Council's valuer. This capital receipt would increase the resources available to fund future capital expenditure.

RESOLVED

That the freehold of the site at the corner of Cooke Road and Barley Way, South Lowestoft Industrial Estate, be sold to Mr. Harber for the sum of £28,100.

Volume 28 Minute 386

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