February 12, 2021 5.03 pm This story is over 38 months old

East Lindsey to sell industrial land in Louth

Council bosses buying and selling

East Lindsey District Council is looking to make a £105,000 profit on a piece of land in Louth next week.

The authority’s executive on Wednesday, will be asked to agree to the sale of Plot 63, on Fairfield Industrial Estate for £243,600.

At the same meeting, members will also be asked to give final approve £340,000 of capital funding to bring London Road Pavilion up to scratch.

The plot of land the council is looking to sell is subject to an agreement with Lincolnshire County Council and the former East Midlands Development Agency the authority will only receive 43.73% of the sales value, minus any costs.

Reports before the council do not name the prospective buyer, but say the sale would be subject to them getting planning permission to build a warehouse and a storage yard on the site.

The sports facilities on London Road, Louth.

The London Road plans include a £130,000 replacement astroturf facility for the playing of hockey and a £170,000 contribution towards new 3G football facilities.

The new hockey pitch will cost £180,000. Louth Hockey Club will pay £10,000 contribution itself but will also be given a £40,000 loan from the council as part of the spend which it will be asked to repay to the council over 20 years – a total of £50,000 investment from the club.

Meanwhile the 3G facilities are estimated to cost £825,000 but it is hoped Football Foundation Funding and match funding will pay the majority of costs.

The funding was originally approved in principle in 2018, and officers have since been working to finalise the costs.

The facility, which is run by Magna Vitae, currently costs the council around £75,000 a year and the upgrades are part of proposals to reduce that cost to zero.

It is hoped the moves will increase use and allow greater partnership working with educational partners as well as hosting wedding and social events.

“This investment would provide an improved leisure offer that would significantly benefit the district going forward,” said officers in their report.