Issue details

The land to the east of 6 Blacksmiths Close, Babraham was the subject of a Decision Notice dated 25.5.2017 for the approval of the sale of land, following the identification of this site as one of 100 self-build plots in our District.

The first Decision Notice was drafted following obtaining Outline Planning Permission ref: S/2925/16/OL and this site was subsequently marketed by Carter Jonas, in accordance with the requirement placed on Local Authorities to adhere to S.123 of the Local Government Act 1972, which seeks to ensure that public assets i.e. residential building plots, are disposed of at ‘best price’ (market value) to safeguard the tax payers’ interests and prevent any possible Judicial Challenge.

The first period of open marketing, across multiple platforms and directed both to the existing register and to the general public, resulted in a successful bid of £246,300 being received. All legal documentation was prepared however the purchaser pulled out of the deal before the exchange of Contract. The site was then remarketed in June 2018 and two bids were received. The successful highest bid of £205,000 was received from an applicant on the Self-Build register on 23.7.2018. Having discussed this reduced offer figure with our marketing agents, we are assured that this offer reflects the depression in general land values.

We have received written notification from Carter Jonas, that the obligation to achieve ‘best price’ in accordance with S.123 of The Local Government Act 1972 has again been discharged.