Cashless land swap to create homes in Oldbury

Sandwell Council cabinet is being asked to recommended a transfer of nearly 11,000 square metres of council-owned land in exchange for property owned by the local firm, Taylor Grange Ltd.

In total two hectares of equal value will be swapped in the cashless deal.

Councillors will be asked to declare four sites on West Bromwich Street and Bromford Road, Oldbury, as surplus to requirements while Taylor Grange gives up land on Dudley Road, Oldbury.

A report to cabinet says the transfer will allow the company to increase the numbers of homes it has planned for adjacent land but hasn’t revealed how many will be built.

Finance bosses say the developer’s land is surrounded by a car park and property owned by the local authority, adding: “Including the council-owned land the Taylor Grange development site enables improved urban design and efficient highway engineering. That is expected to result in a better, well thought out development without conflicting priorities between separate development schemes.”

Council officers say valuations have been been carried out allowing for the cashless exchange.

Recommending the land swap, the report states: “The course of action recommended in this report is unusual in that it seeks to achieve best value by exchange of land rather than separate sales and purchases. Therefore, the prices achieved and spent are not transparent.

“However, the ease of arranging an exchange is mutually beneficial to Taylor Grange and the council as it simplifies negotiation, timescales and legal process.

“Officers have not identified an option that produces greater transparency and evidence of best value whilst retaining the advantages of a direct exchange between the two parties.”

If the deal goes though, Taylor Grange will submit a detailed planning application.

The exchange will be discussed at Sandwell’s cabinet meeting on September 9.