We are currently reviewing the land and buildings that we own and occupy as part of a wider review.
Part of this includes identifying surplus properties for sale as part of a wider Strategic Disposals Programme.
It is important that we achieve the best price as quickly as possible from future sales of property to be able to deliver our Capital Programme. This supports new schools, and other investment in the City: delivering benefits for us and local communities.
We also want to ensure that we make the most of the land assets that we have, and ensure that developers of our land incorporate high quality design proposals and create schemes that complement the local neighbourhood.
In the current economic climate we need to make some sites and properties more attractive to potential buyers by addressing some of the issues and risks that can hold up development and reduce sale prices.
We call this 'asset enhancement' - aiming to increase values, speed up sales, and maintain high quality development.
We are developing and delivering a programme of action (called the Asset Enhancement Programme) on a range of sites and properties across the city.
Each site has its own issues and requirements and many, but not all, are likely to be developed for residential use.
Some are the sites of former schools, which have been demolished when we have built new schools and we now need to sell the old site for re-development to help to pay for the new schools (e.g. the site of the former King Ecgbert’s school in Dore).
Our main objectives for the Asset Enhancement Programme include helping to:
Make sure that we get the best price as quickly as possible when we eventually sell the sites and properties
Meet the general need for more new housing in the city and more affordable housing in particular
Support our Great Places to Live policy agenda
Meet the needs of local communities and developers
Achieve higher quality design
Programme activities, which help to increase value and make sites and properties more attractive for sale include:
Applying for outline planning permission for development (where appropriate)
Consulting with the local community and key stakeholders
Site investigations and assessments
Designing development schemes and layouts using design teams with expertise in the relevant sector
Developing Planning and Design Briefs (and Master Plans for larger sites)
Investigating legal title and resolving issues
Appraising site constraints and planning policies via Planning Technical Appraisals
Having robust development appraisals and valuations
Site assembly where this adds to value
Identifying and addressing Affordable Housing requirements and s106 (developer contributions as part of planning obligations)
Having good intelligence on the local property market
Seeking Secretary of State Approval to sell (for school sites)
If you would like more information on the Asset Enhancement Programme, please contact us.