Milton Keynes Council will sell four assets at auction in bid to raise almost £700k

The sales are needed because the council’s “current portfolio of assets is unaffordable both in economic and environmental terms”

Monday, 22nd November 2021, 11:06 am

Milton Keynes Council will sell off four surplus assets to the tune of £680,000 at auction.

Land at (37-39) Western Road in Wolverton, the vacant Tree Squared depot in West Bletchley (on B4034), and an empty Chadds Lane depot in Peartree Bridge will be sold via public auction.

While land at Woad Corner on Northampton Road in Newport Pagnell will be sold via competitive tendering (private treaty).

Auction

The sales are needed because the council’s “current portfolio of assets is unaffordable both in economic and environmental terms”.

These assets are all recommended for disposal because they either “no longer make a positive contribution”, there is “no potential” for regeneration, or the income from the sites is “below” requirement.

The council will accept the offer that “represents best value for each site”.

Woad Corner is a former highways depot let to Childbase Partnership HQ for parking. There is also contamination and Japanese Knotweed on site, documents state.

“We will expect to see significant Capital receipts totalling £680,000 upwards,” documents state.

“With the auction properties, there is a possibility we could see offers greatly exceeding the guide price if a number of competitive bidders come together on the auction day.”

Sales should be completed by March 31, 2022.