THE borough council has made nearly £7 million in four years selling off public land and buildings. A former school, a pub and a former depot are among the major pieces of public property Reigate and Banstead Borough Council has decided to dispense with since 2009.
Most recently the authority agreed to sell the former Newman House site in Horley to Thames Valley Housing, which will now become a major residential and retail unit. Although the council is yet to finalise a selling price for the Victoria Road site, the Mirror can reveal the council paid £5.8 million for the former office building in 2006 before spending £101,574 on demolishing it and putting it up for sale.
The council has also identified the next pieces of land and property it wants to sell including Marketfield Way car park in Redhill – which is likely to make way for a cinema – and the remaining parts of Court Lodge junior and secondary school in Horley.
To date, the most expensive asset the authority has sold is The Market Hotel in High Street, Reigate, which was sold for £1.9 million last year.
Last year was also the busiest selling period for the council since 2009. In 2012 the council sold six assets totalling £2,418,900, including The Market Hotel, along with Castle Keep Cottage in Castlefield Road, Reigate, land in Church Road, Reigate, and land near The Ship pub in Copse Road, Reigate.
In most cases, decisions to sell public property or land must be taken by the executive – a committee of ten senior elected councillors – according to a borough council spokesman. But in some circumstances, where the property value is less than £500,000, delegated authority allows council officers, in consultation with the relevant executive member, to authorise a sale within the correct procedure.
The council also aims to sell assets with the benefit of planning permission, where appropriate, so it knows what the land will be used for once it is sold. The income is then held in reserve until needed for other projects.
Councillor Natalie Bramhall, executive member for property and regeneration, said: "The council's asset management strategy seeks to review our land and buildings and dispose of those that are surplus to requirements, while achieving best value.
"The income has been and continues to be used to fund schemes to benefit the community, such as the new Horley Leisure Centre and the refurbishment of Donyngs Leisure Centre, the proposed new Banstead Leisure Centre, improvements to the Harlequin Theatre, park and play area improvements, new recycling and refuse vehicles and regeneration initiatives in Redhill and Horley town centres and in Preston and Merstham."
