URL: https://mansfield.moderngov.co.uk/ieDecisionDetails.aspx?ID=1772

Decision Maker: Chief Executive Officer

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Purpose: To declare surplus to requirements the property know as Upper Regent Street, comprising units 6 – 14 Regent Street, Mansfield as surplus to requirements.

Content:   Upper Regent Street, Mansfield - Declare Surplus   Delegated Decision Ref: 25/35/CEO     i.               That the commercial property, collectively known as Upper Regent Street, Mansfield be declared surplus to requirements. ii.              That the Corporate Asset Manager be instructed to dispose of the site by a method of sale to be determined and for the best consideration that can reasonably be obtained.   The Council owns the freehold interest of the subject properties, no.s 6-14 inclusive, and form part of a block of commercial property situated in Mansfield town centre. The retail parade extends to three storeys, of brick built buildings, with stone cladding to the upper parts of the frontage, dating from the 1920’s.   While the ground-floor retail units achieve a steady income and costs are minimal, 8 Regent Street on the upper floors of the block is a liability which severely hampers the profitability and long-term viability of this asset.   The disposal of this property will alleviate future maintenance and management costs. The upper storeys lend themselves to residential conversion subject to planning permission. A disposal will also generate a capital receipt.   It is proposed that the property is disposed of by auction to determine a value for the property which ensures best consideration is achieved.   The property could be retained by the Council, but the requirement for future maintenance works means that this is not financially sustainable.  

Date of Decision: September 30, 2025