Issue - meetings
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Meeting: 21/05/2026 - Executive (Item 17)
Bond Riverside 13B, C & D
(Paragraph 3 – information relating to financial/business affairs of particular person)
(Paragraph 5 – information relating to legal privilege)
Purpose: to inform the Executive that the marketing exercise for the potential disposal of the Council’s freehold interest on 13B, C & D Bond Riverside has been completed. Following an independent formal valuation in order to satisfy Section 123 of the Local Government Act 1972, the report proposes to progress disposal of the freehold.
Additional documents:
- Restricted enclosure 2
- Restricted enclosure 3
- Restricted enclosure 4
- Restricted enclosure 5
Minutes:
(Paragraph 3 – information relating to financial/business affairs of particular person)
(Paragraph 5 – information relating to legal privilege)
The Executive considered an exempt report (Agenda Item 18), which informed the Executive that the marketing exercise for the potential disposal of the Council’s freehold interest on 13B, C & D Bond Riverside has been completed. Following an independent formal valuation in order to satisfy Section 123 of the Local Government Act 1972, the report proposed to progress disposal of the freehold.
RESOLVED that: the recommendations in the exempt report be agreed.
Other options considered:
· That the council purchases the leasehold interest and redevelops 13B, C & D itself. This option is not practical and highly risky. The Council would need to borrow the capital at a time of high interest rates and the Council has limited experience and capacity to deliver regeneration itself without considerable risk to itself.
· The Council could choose to market the freehold of the whole of the Bond Riverside Estate (excluding the football ground). While there has been an indication that there may be some appetite to purchase the freehold of the whole site, the likelihood of receiving a realistic offer is uncertain and while the site is marketed, the current offer could be withdrawn undermining the ability of the Council to secure a capital receipt and the potential to support regeneration on this part of the estate.
· The Council could determine to retain the freehold and continue with the current arrangements. This option has been discounted in view of the benefits of securing a capital receipt and the potential to support regeneration.