Housing Land Acquisition Negotiation

Negotiation update for acquisition of Foxglove Lane site for 45 affordable homes. Initial offer £1.05m (Sep 2024) rejected; counter-offer £1.15m (Jan 2025) rejected; landowner holding at £1.35m with alternative developer interest. Independent valuer supports up to £1.28m for open market residential use. Recommends revised offer of £1.22m; ceiling delegation of £1.25m to Head of Housing Development to secure site and prevent loss to private developer.