THE PROPOSED sale of a council-owned field near an industrial estate has been described as “good news” for northern Monmouthshire and the heads of the valleys.
Monmouthshire County Council’s cabinet has agreed to sell a parcel of land, that measures just 0.59 hectares, which neighbours the Mardy Park Resource Centre and the Nantgavenny Lane Business Park in Mardy, Abergavenny for an undisclosed sum to the owner of the business park.
The offer to buy the land has come after the council promoted the vacant field as a potential candidate site for new employment use in the replacement local development plan, the county’s planning blueprint that it is currently working on.
As access to the field is through the business park it isn’t considered likely to be attractive to other developers who would need to negotiate access with business park owner.
But a report for the cabinet said the owner of the business park could be considered as “special purchaser”, a term used by surveyors to describe a buyer who would consider an asset to have a “special value” as they would enjoy advantages from ownership which other potential buyers wouldn’t have.
The cabinet has agreed officers can finalise the details of the sale but it will be on condition there is planning approval for B1 business use, with the purchaser intending to extend the business park to offer light industrial space and office accommodation.
There will also be a covenant restricting the land for B1 use class only, as well a means to “capture any future uplift in value” if planning permission is gained for any other use, such as housing, which would increase its value.
Labour council leader Mary Ann Brockelsby, who represents Llanelly Hill, told the cabinet there is “high demand” for business units and offices at the existing estate.
She said: “I know from talking to one of my ward members this really is a good news story for small businesses and start ups, not just in Mardy and Abergavenny but as far up as Llanelli Hill and the heads of the valleys as it is much needed and is part of our desire to stimulate and support economic growth.”
The sale price wasn’t disclosed in the open cabinet meeting, with further details provided confidentially to the cabinet as the price is considered to be commercially sensitive, but the cabinet report stated: “The negotiated price reflects market value as a special purchaser, achieving best consideration. The price takes into account the preferred means of access through the existing business park.”
The council’s legal and surveyor fees will be covered by the purchaser, totalling £1,500.