To approve the strategic purchase of the southern campus of the Royal National College for the Blind (RNCB), Venn’s Lane, Hereford within a defined budget of £6.25 million and to authorise officers, following appropriate consultation and due diligence, to proceed with the purchase of the property.

The proposed purchase will be a strategic acquisition which would support the council’s policies in respect of economic growth and ensure that a key education site within Hereford is retained and enhanced.

That:-

(a)  the purchase of the southern campus of the Royal National College for the Blind, Venns Lane, Hereford as set out in the redline plan at Appendix 1 (“the Site”) be approved within a maximum budget of £6.25 million;

(b)  subject to the Chief Finance Officer being satisfied that appropriate heads of terms have been agreed, due diligence has been completed and the purchase provides value for money, the acting director economy and place, in consultation with the cabinet member contracts and assets, be authorised to complete the acquisition of the Site;

(c)  on acquisition, the Site be added into the council’s property portfolio for all asset management and maintenance purposes;

(d)  the acting director economy and place be authorised to take all operational decisions necessary to implement the above recommendations; and

(e)  a further report be brought to the executive following any acquisition, in order to determine whether the Site should be entered into the council’s development and regeneration programme.

1.            Not to proceed with the acquisition. This is not the recommended option, because if the council does not acquire the site it is highly likely that it will be acquired by a private developer with little or no interest in retaining the site for education use which supports the long term economic objectives of the council and other stakeholders.

2.            To acquire part of the site. This is not available as the RNCB are marketing the campus as a whole and will not sub-divide and sell in smaller lots.