Issue details
Disposal of Plot N24 off Canary Way, Skylon View, Hereford Enterprise Zone, Rotherwas
Compliance with approved council policy.
Help to further the establishment of NMITE in Hereford, and in
particular the specialist facilities it needs to engage and work
with local businesses.
Following the award of enterprise zone status in August 2011
approximately 45 hectares (110 acres) of council owned land was
included, along with other privately owned land, in the designated
EZ. The EZ status has resulted in the council and occupiers within
the EZ benefiting from a number of government incentives such as
significantly increased awareness and profile of the location and
opportunity, business rates relief and retention, improved access
to broadband etc. These factors have resulted in an increase in
interest from local, national and international businesses in
active and advanced negotiations with the council to acquire land
within the EZ.
This area of land is located next to the Shell Store at the North
Magazine. We anticipate a good deal of beneficial interaction
between the Shell Store and the new NMITE facilities. The Shell
Store will be a natural location for business start ups generated
by students graduating from NMITE.
The sale of the land is on a freehold basis. The purchaser will not
accept or proceed with the purchase on any other basis.
Granting an option for the 1.6 acres immediately adjoining the site
will give NMITE the certainty they need to help realise their next
stage ambitions which is to build another specialist facility,
subject to funding being available. This option is specific to
NMITE and not transferable, any extension will be at the discretion
of the Council. The sale will be based on market value at the time
the option is exercised.
All the EZ land is being actively marketed, and is being sold
according to independent land valuations and the EZ Land Disposal
Policy which was approved by cabinet member on 7 January 2016. The
agreed purchase price meets the market valuation. Valuation
document attached.
This sale has the full endorsement of the EZ executive board.
The purchaser and their proposal have been assessed by the Hereford
Enterprise Zone Board and deemed to meet the Placement Strategy,
the Board’s set of criteria which each oncoming organization
must achieve in order to progress onto the Enterprise Zone.
The decision to sell this plot supports council policy to use
capital receipts from sale of land within the Enterprise Zone to
fund the capital expenditure on installing necessary infrastructure
across the site. The latest council decision to incur this
expenditure is available via this link:
http://councillors.herefordshire.gov.uk/ieDecisionDetails.aspx?ID=6182
Decision type: Non-key
Decision status: Recommendations Approved
Notice of proposed decision first published: 30/03/2021
Decision due: 30 March 2021 by Director of Economy and Place (Historic)
Contact: Mark Pearce, Programme Director, Places and Communities Email: mark@skylonpark.co.uk Tel: 01432383521.
Decisions