The Strategic Asset Review was undertaken and signed off by both South Hams and West Devon councils in 2013. This included a full list of the projects that have been taken forward, including disposals. In line with Our Plan, the current updating of that work will ultimately lead to further reporting to members.
To give that reporting context, the following financial thresholds from the Financial Procedure Rules are of note:
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Item Value ex VAT Disposals: Land and Buildings - Section 3
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Below £25,000
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In conjunction with the Finance Community of Practice Lead (s.151 Officer), the Assets Community of Practice Lead (Corporate Property Officer) may implement minor freehold disposals of land not required for operational purposes up to £25,000 in value.
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£25,000 to £50,000
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The Assets Community of Practice Lead (Corporate Property Officer) in consultation with the Finance Community of Practice Lead (s.151 Officer) and the Leader, may agree to the disposal, by sale or lease, of small areas of land whose market value does not exceed £50,000 in value.
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Above £50,000
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The disposal of any land and buildings over £50,000 in value requires the prior approval of the Hub Committee for West Devon and shall be made within the context of the Council's asset management plan.
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Item value exc. VAT Acquisitions: Land and Buildings - Section 2
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Below £25,000
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In conjunction with the Finance Community of Practice Lead (s.151 Officer), the Assets Community of Practice Lead (Corporate Property Officer) may implement minor freehold acquisitions of land required for operational purposes up to £25,000 in money or money's worth from or to the owners of adjacent or nearby property or Statutory Undertakers where there are no future ongoing liabilities.
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£25,000 to £50,000
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The Assets Community of Practice Lead (Corporate Property Officer) in consultation with the Finance Community of Practice Lead (s.151 Officer) and Leader may agree to the acquisition, by sale or lease, of small areas of land whose market value does not exceed £50,000.
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Above £50,000
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The acquisition of any land and buildings of a value in excess of £50,000 requires the approval of Executive for South Hams and the Resources Committee (now Hub Committee) for West Devon and shall be made within the context of the Council's asset management plan.
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The Asset Management Plan, which sits under the Asset Management Strategy, will include all projects being taken forward or that are pending. It will be updated on a quarterly basis and submitted to members of the Hub Committee. This will be treated as an exempt item (due to commercial sensitivities) as a progress update rather than a full report.
The Assets Community of Practice Lead (Corporate Property Officer, as well as the Group Manager - Business Development) will work closely with the portfolio holders for Customer First & Business Development at South Hams and the portfolio holders for Environment and Economy at West Devon, in order to ensure progress and direction has member input. The exact frequency and format of these meetings will be agreed with the relevant portfolio holders. Public and wider member engagement will also be encouraged whenever practical.
