Issue details

Proposal for the disposal of the Dreamland freehold

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 type: Key

Reason Key: Significant effect on communities;

Decision status: Item Called In

Notice of proposed decision first published: 10/07/2019

Decision due: 1 Aug 2019 by Cabinet

Lead member: Councillor Robert W Bayford, Leader of the Council cllr-robert.bayford@thanet.gov.uk

Lead director: Tim Willis

Contact: Hannah Thorpe Tel: 01843 577120 Email: hannah.thorpe@thanet.gov.uk.

What the decision will mean: It would mean, subject to the agreement of external funders, the disposal of the Dreamland site to the lessee and operator of the site, Sands Heritage Limited.

Decisions

Agenda items

Documents

  • Extra Cabinet report