AN AREA of land in Hattersley is to be sold to housing developers for just £1 – some £360,999 less than it has been valued at.
But the deal with Onward Homes, which owns adjoining space, could bring financial benefits in future, as well as a boost in elderly care.
Tameside Council has agreed to hand over what it owns on the corner of Hattersley Road East and Beaufort Road – where Hattersley Community Centre once stood – as well as public open space land containing a footpath for the sum.
However, that will form part of a development of 161 homes, 91 of which will be units of what is termed an older person’s extra care scheme.
And even though an independent valuation priced it at up to £361,000, it is considered to be a good deal, especially as it had already been classed as ‘surplus.’
For estimates suggest it would raise annual council tax revenue of £172,000 a year, save on future costs estimated at £122,000 a year and if all 18 identified properties of the development are sold, Tameside will receive up to £350,000 in what is called an overage agreement.
Paul Smith, assistant director of strategic property, said: “This enables £11 million of grant funding to support the development of a £28 million scheme of 161 homes, 91 of which are units in an older person’s extra care scheme.
“There’s a potential of up to £361,000 if we were to sell an area of the land separately, which is subject to other ground investigations which would probably mitigate most of that.
“However, the council has put in place an overage agreement meaning if any of certain identified properties were sold on, it would get a share up to £350,000 in future.
“It’s a major development covering an area that’s been cleared for quite a few years now, bringing a major investment, homes and housing and extra care developments to the council.”
Of the care scheme, 60 properties will be one bedroomed apartments for two people and 31 will be two bedroomed apartments for three people.
And Cllr Eleanor Wills said: “There’s a need for this across the authority and the offer itself is invaluable.”
Cllr Oliver Ryan added: “This is fantastic news and something we should all welcome.”