Sale of Land to Keepmoat Homes Limited at Ravensworth Road, Dunston
Report of the Strategic Director, Corporate Services and Governance
Additional documents:
Minutes:
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Consideration has been given to the sale of land, shown edged black and referred to as Phase 2 on the plan attached to the report, to Keepmoat Homes Limited (KHL). The land is subject to a Development Agreement dated 4 December 2013 between the Council and KHL and together with Phase 1 forms part of the wider redevelopment of Ravensworth Road, Dunston. |
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RESOLVED - |
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That the variation to the terms of the Development Agreement to allow KHL to purchase the Phase 2 subject site as set out in the plan attached to the report, in advance of the practical completion of Phase 1 be approved. |
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The above decision has been made for the following reasons: |
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(i) |
To achieve a capital receipt earlier than expected in the development programme. |
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(ii) |
To accelerate housing delivery in Dunston by 12 months by facilitating the early commencement of the construction of 45 new residential dwellings, including 4 Lifetime compliant dwellings and 1 wheelchair designed dwelling in accordance with the reserved matters application (DC/15/00817/REM). |
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(iii) |
To achieve all the regeneration objectives of the Ravensworth Road redevelopment project. |