Issue - meetings

Disposal of Council Asset at Montem Lane

Meeting: 13/10/2022 - Cabinet Committee - Asset Disposals (Item 4)

4 Disposal of Council Asset at Montem Lane pdf icon PDF 138 KB


The Committee considered a report that sought agreement to recommend to Cabinet the disposal of land assets at Montem Lane which was one of the sites owned by the Council and opted to Slough Urban Renewal (SUR).


The proposed sale had been subject to option review and a due diligence process which confirmed the offer reflected best consideration reasonably obtainable for the disposal.  Members noted the exempt information in Part II of the agenda in considering the report. 


It was agreed that the proposed approach was supported on the basis that it ‘de-risked’ the Council and generated a capital receipt whilst achieving the intended outcome of securing housing development on the site.


Resolved –  That it be recommended to Cabinet to:


(a)  Agree to the disposal of the Montem Lane asset and to delegate authority to the Executive Director of Housing and Property, in consultation with the Lead Member for Financial Oversight and Council Assets and the Executive Director of Finance and Commercial, to enter into the sale contract and the related legal documentation in connection with the disposal in accordance with the Heads of Terms and Site Development Plan (SDP) appended at Appendix 4 and 2 to the report.


(b)  Approve the Draft Formal Site Development Plan for Montem Lane so that this document can be considered to be “Adopted” in accordance with the terms of the SUR Partnership Agreement (PA).