Disposal - Linked to Capital Programme

General issues

Selling land and property generally generates significant sums of money. This money can then be used to finance capital projects. The council's Capital Programme assumes a certain level of capital receipts based on a schedule of anticipated receipts that can be achieved in those years. Failure to achieve these receipts in the planned timescale can cause financing difficulties for the capital programme. It is very important that capital receipts are achieved in the agreed timescale.

Do not leave sales to the last minute. It takes time for our property consultants, solicitors and other financial advisers to process land and property deals so please allow for this. The most hectic period is March because that is the end of the financial year and many sales are being processed during that month.

Specific projects

Some capital projects are funded in whole or in part by capital receipts from the disposal of specific property. The allocation of receipts in this way will be a matter for consideration and determination by the Strategic Infrastructure Board and depending upon the level of receipt the cabinet.

Where this happens, there needs to be a degree of certainty over the level of the receipt, before a building contract can be awarded. The following will therefore be required:

• Resolution to grant planning permission for the disposal site, subject to the signing of a Section 106 Agreement; and
• DFE Disposal Consent, if applicable.

There may also be other issues to be resolved, before the contract can be awarded, such as the acquisition of land or the completion of some other form of legal agreement. It is important therefore that these requirements are incorporated at an early stage into the timetable for letting building contracts.

Further details

Further details can be obtained from:

Strategic Asset Management Team
Property and Facilities
Environment and Economy

Tel: 01865 810427
Email: sam.team@oxfordshire.gov.uk