Item 9 - Sale of Site at 12 Overton Street, Alexandria
West Dunbartonshire Council · 17 August 2022
Back to Infrastructure, Regeneration & Economic Development Committee — 17 August 2022 and its agenda
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WEST DUNBARTONSHIRE COUNCIL Report by Chief Officer: Supply, Distribution and Property Infrastructure Regeneration and Economic Development Committee: 17 August 2022 ___________________________________________________________________ Subject : Sale of Site at 12 Overton Street, Alexandria 1. Purpose 1.1 The purpose of this report is to seek the approval of the Committee that the Council enter into a contract for the disposal of this site to McPherson Memorials Ltd. 2. Recommendations 2.1 It is recommended that the Committee: (i) Approve the disposal of the site to McPherson Memorials Ltd (SC236286) for a value of £25,000 (Twenty Five Thousand Pounds). (ii) Authorise the Chief Officer, Supply, Property and Distribution to conclude negotiations. (iii) Authorise the Chief Officer, Regulatory and Regeneration to conclude the transaction on such conditions as considered appropriate. 3. Background 3.1 The site is wholly owned by West Dunbartonshire Council and is currently let to Alan McPherson (McPherson Memorials Ltd) at a rental of £1,560 per annum. 3.2 Mr McPherson uses the site as a yard with small office for the display and sale of headstones. 3.3. The lease to Mr McPherson expired on 28th July 2021 and was continuing on tacit. During negotiations for a new lease Mr McPherson enquired whether the sale of the site leased would be possible. 4. Main Issues 4.1 The site is not required by the Council for any operational purposes. Page 1 of 3
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4.2 The disposal of the site to McPherson Memorials will retain a local business within Alexandria town centre. 5. People Implications 5.1 There are no significant people implications other than the resources required by the various Council services to deal with legal documentation to conclude the deal. 6. Financial and Procurement Implications 6.1 The Council will benefit from a capital receipt. 6.2 The Council will no longer have to incur resources in managing the tenanted property. 6.3 There are no procurement implications arising from this report. 7. Risk Analysis 7.1 The disposal is subject to legal due diligence. 7.2 As with any deal of this nature there is a risk of the deal not proceeding due to issues which arise during the due diligence process or due to lack of finance but should this not proceed the Council would still benefit from the rental income. 8. Environmental Sustainability 8.1 The site will continue to be used for its current use. 9. Equalities Impact Assessment (EIA) 9.1 An Equality Impact Assessment is not applicable for the purpose of this report. 10. Consultation 10.1 Consultations have been undertaken with Finance and Regulatory. 11. Strategic Assessment Page 2 of 3
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11.1 By agreeing to this proposal the Council will benefit in terms of receiving a capital receipt equivalent to approximately 12 times the annual rental value. 11.2 A town centre site will remain in commercial use within West Dunbartonshire thus contributing to the Council’s strategic priority for a strong local economy and improved job opportunities. Angela Wilson Chief Officer: Supply, Distribution and Property Date: 29.07.2022 Person to Contact: Michelle Lynn, Asset Coordinator. Email: michelle.lynn@west-dunbarton.gov.uk J David Johnston, Estates Surveyor. Email: david.johnston2@west-dunbarton.gov.uk Appendices: Appendix 1 – Site Plan Background Papers: None Wards Affected: Ward 2 Page 3 of 3