When we identify land and buildings which are no longer required and cannot be used more effectively by us or our public sector partners, they will be offered for sale or long lease in the open market.
Land and buildings currently on the market
We do not currently have any land or buildings available for sale or lease.
Land purchase enquiries for assets not listed
The first stage of any enquiry is to ensure that we hold the freehold title.
When the land is not part of our estate, enquiries are directed to the Land Registry.
When the land is part of our estate, each enquiry for the purchase of our land is reviewed on an individual basis. This is due to a variety of factors that would impact on a sale:
- purchase conditions requiring us to keep the land as open space
- more than one interested party
- interests of adjacent assets
- land being held for future strategic reasons
Land that is used as or could be considered public open space, or that has significant amenity value cannot be sold or let. Some exceptions may be considered in certain circumstances but these are very rare cases and would normally involve the purchaser offering land that could become open space as a substitute.
If the land could be of benefit to more than one adjoining property, it cannot be sold directly to the enquirer and may be advertised and sold on the open market through an informal tender process.
Where land requested for purchase is not open space and not of interest to anyone else, the following process will be followed:
- our Estates Team seek initial approval for the disposal of land, both from the responsible service unit and the Corporate Property Officer
- our Estates Team contact the Valuation Office Agency for a timeline and quote for a valuation of the market value for the land
- we inform the purchaser of the cost of the valuation
- the purchaser pays for the valuation to proceed
- we instruct the Valuation Office Agency for valuation and receive the report. The report belongs to us and will be shared only at our discretion
- we provide the applicant with a purchase price
- the purchaser confirms they wish to proceed at the purchase price quoted and provides the details of their solicitor
- our Estates Team seek final approval for the disposal of land. Please note that our decisions for the disposal of assets are governed by our Financial Regulations. Disposals of assets valued at less than £250,000 but at best consideration are officer delegated decisions taken by the Corporate Property Officer
- our Estates Team instruct our Legal Team of the sale details. (This part of the process incurs legal fees for the purchaser and can take a minimum of 3 months to complete, the fees and timescale are dependent on the complexity of the case)
We are required to demonstrate that we have obtained ‘best consideration’ for the land sold. This is achieved through formal valuation but the costs are to be met by the applicant (these costs will need to be met even if the sale or letting does not proceed). Our legal costs also need to be met by the applicant, these can be in the region of £1,500.
Please remember that even if we enter into a transaction the use of the land is often restricted. This process does not remove any requirements for any other statutory permission such as planning permission or meeting building control requirements.
The timescale from an initial enquiry to the final purchase stage of our land will be more than 6 months.
Please send initial enquiries to email@example.com.
Page last updated: 17 October 2018