Following millions of pounds of public funding, the successful restoration of the amusement park and substantial private investment, the council is now reviewing ownership of the entire Dreamland complex in order to unlock the continued regeneration of other parts of the site.
To support asset management and financial strategies, there is an ongoing review of the corporate portfolio to identify assets that are not meeting the corporate objectives and therefore should be considered for disposal. Dreamland has been fully appraised and is considered suitable for generating a capital receipt as well as transferring risks and liabilities to Sands Heritage Limited.
Decision Maker: Cabinet
Made at meeting: 01/08/2019 - Cabinet
Decision published: 02/08/2019
Effective from: 10/08/2019
Decision:
Cabinet agreed that:
1. Subject to agreement of external funders regarding the removal of ongoing grant obligations upon the council, and subject to legal advice, to dispose of Dreamland to Sands Heritage Ltd including the boundary as indicated in Annex 1, all rides listed in Annex 2 and the intellectual property rights of Dreamland.
Lead officer: Hannah Thorpe