Members considered a report providing an update on the development of land at London Road, Sevenoaks.  Reef Developments had submitted a planning application for the redevelopment of three sites to provide a 42,300 square foot retail until (provisionally let to Marks and Spencer Plc.) and 22 one and two bed residential units including 6 social residential units.

The proposal, subject to a satisfactory planning consent being granted, was for the Council to transfer its land interests to Reef Developments.  Chase and Partners, who had advised the council in respect of the adjoining Blighs Meadow Compulsory Purchase Order and redevelopment,  had been retained to represent the Council’s interest in this matter.

Members agreed that it was important to be responsive in the current market and felt that the decision taken by Marks and Spencer’s to continue to pursue the Sevenoaks proposals demonstrated the faith they had in the town.

The Chairman stressed that the recommendations before Members related to the financial terms for selling the land was not about the planning process or the Council’s responsibilities as a community leader.

Resolved: that the Chief Executive in consultation with the Leader of the Council and the relevant Portfolio Holder be authorised to agree the terms of the transfer of the Council’s interests in the site in order to secure the development of land at London Road.