The next phase of the Asset Development and Disposal Programme (ADDP) is set to be approved

The council is seeking approval for phase three of the ADDP. It will be presented at Cabinet on Tuesday 25 March and Council on Wednesday 26 March

The Asset Development and Disposal Programme (ADDP) is part of the wider Transformation Programme, which has already saved £9.5 million this financial year. It is both about delivering financial sustainability for the council by raising money for assets that are suitable to be sold, and supporting regeneration, as the council is one of the key land and asset owners in the city.

The programme is being delivered in a phased approach. The process considers whether each asset in a phase will be recommended for disposal, development, or regeneration. This allows the council to review each proposal individually, with no final decisions being made at this stage. Reviewing the council’s portfolio will make assets available that can support the city’s regeneration: acting as a catalyst for growth, including the delivery of new homes, in line with the Southampton Renaissance Vision. Releasing assets that are no longer needed will also decrease the costs of future repairs and maintenance.

The council are working with Savills to market assets, if a decision is taken to sell them. Savills will be conducting market appraisals and valuations, aiming to achieve the best possible value by selling through both the open market and via auctions.

At this stage, the list of assets being considered is confidential whilst Savills carry out market evaluation. Listing the individual assets being considered, before a decision has been made to dispose of them and before they are ready to be advertised for sale, could detrimentally impact their value.

Additionally, some sites might be used for bigger regeneration or development projects that align with the city’s growth agenda.

Councillor Sarah Bogle, Cabinet Member for Economic Development, said:

“This programme is a way to help the council manage our assets thoughtfully and with the future in mind. We will be considering maintaining and retaining some locations, developing some for housing and other uses, and disposing of others.

“It’s important that we handle the programme as delicately as possible. Listing assets confidentially at this stage does not automatically imply that all those sites will be sold.

“We also want to ensure that local people are given the opportunity to have their say, so public consultation will take place around specific disposal decisions where there is a direct public impact. This will be managed through the usual processes, such as planning applications and Traffic Regulation Orders.”

Find out more about the Asset Development and Disposals Programme.