URL: https://cabinet.leicester.gov.uk/ieDecisionDetails.aspx?ID=1520

Decision Maker: City Mayor (Individual Decision)

Outcome:

Is Key Decision?: No

Is Callable In?: Yes

Purpose: To seek approval to proceed with the disposal of 344 Harrison Road, Leicester, LE4 7AB on a one-to-one basis to the neighbouring freeholder AKR Holdings Ltd., of 336a Harrison Road, Leicester LE4 7AB for £132,500 as a ‘Special Purchaser’ (as defined in the Council’s Constitution).

Content: To seek approval to proceed with the disposal of 344 Harrison Road, Leicester, LE4 7AB on a one-to-one basis to the neighbouring freeholder AKR Holdings Ltd., of 336a Harrison Road, Leicester LE4 7AB for £132,500 as a ‘Special Purchaser’ (as defined in the Council’s Constitution). To approve the disposal of 344 Harrison Road, Leicester, LE4 7AB on a one-to-one basis to the freeholder of 336A Harrison Road, Leicester, LE4 7AB for £132,500.   It is noted that the City Barrister and Head of Standards Division, will prepare and execute all necessary documentation required. The Director of Estates and Building Services Division has agreed the required detailed terms and valuations. The subject property has been vacant for several years and will continue to deteriorate without extensive refurbishment including structural remediation. There are party wall implications with the neighbouring property, 344A Harrison Road (owned by the proposed purchaser), and the property is not suitable for re-letting by the HRA in its current condition. The HRA wherever possible seeks to acquire property which is standardised across the portfolio or presents opportunity for standardisation of layout to support efficiencies for HRA maintenance. Covenants can be put in place to prevent major development and for the property to be redeveloped for habitable occupation within 24 months of completion. i)          Disposal on the open market via auction was discounted in favour of the above market value offer in light of the poor condition of the property and party wall implications.   ii)         The recommend option is to dispose of the property to the adjacent freeholder and reinvest the capital receipt into more suitable HRA stock.

Date of Decision: March 11, 2026