Members of the Property Disposal and Capital Programme Sub Committee will next week be asked to approve a recommendation to treat Ventnor boat builder, Cheetah Marine, as a special purchaser of council-owned land on Ventnor Industrial Estate.
The boat builder plans to expand the business, now in its 25th year, and say the plans would safeguard twenty seven existing full time jobs.
The land has traditionally been used as a car park for other businesses on the estate. Options to enable the parking to be relocated elsewhere on the estate are under consideration.
Members are being asked to approve the recommendation,
To appoint CM as a special purchaser and to bring a further report to council setting out the final terms of the proposed disposal together with two independent valuations to enable the council to consider whether the proposal represents best value.
What is a special purchaser?
The paperwork explains,
In a limited number of situations where a strong business case supports the proposal, a property might be disposed of through special purchase to a single party.
A “special purchaser” is defined by the Royal Institution of Chartered Surveyors (RICS) as “a purchaser to whom a particular asset has a special value because of the advantages arising from its ownership that would not be available to general purchasers in the market”.
Full details are outlined in the paper below. Click on the full screen icon to see larger version.
Image: © Google Streetview
