The record of officer decision dated the 10 February gave approval to dispose of the site using the existing contract with Fisher German. The site was offered for sale by private treaty and by way of an informal tender process to maximise financial return, to support the local economy (including the agricultural sector), to support the welfare of the tenants, to minimise timescales and for community benefits.

The site was marketed in accordance with agreed promotion strategy. The closing date for offers was midday, Friday 18 September 2020.

In assessing bids against the policy to ensure best value is achieved and an open market value is realized, specific account was taken of many factors including:

The monetary value of offers

The nature of stipulated priorities (numerous prospective purchasers submitted offers on multiple properties with an order of preference stated)

Accommodating the plans of current tenants and likely ongoing landlord/tenant relationships

Financial references

The ability to proceed to timescales requested

Levels of preparatory work undertaken including viewings, interaction with Fisher German, legal investigations and data room usage, and

Risk factors including projected contract numbers and the likely complexity of proposed transactions

When considering which offer delivers best value when assessing against the ‘Councils Criteria’ the recommendation from the councils appointed agents is that we go to a Contractual Best and Final. All the parties’ lawyers are issued with the necessary sale documentation and they then submit their offer on a signed contract with the requisite 10% deposit with completion a month later. This will ensure transparency that the council is obtaining the best value for the sale of its assets.