REFERRING to Mid Devon District Council’s Cabinet’s recent decision to sell the Council Offices in Market Street in Crediton, to a commercial buyer rather than Crediton Town Council, Mid Devon District Council’s Chief Executive, Stephen Walford, has issued the following statement.

He writes: "In common with many other authorities, the efficient use of our property and asset portfolio is of increasing importance to the effectiveness of the Council’s ongoing financial management.

"From first discussing the disposal of this property, it has taken almost a year to make the decision to sell, with this issue being discussed variously at Cabinet, Full Council - and via the Council’s Scrutiny Committee as part of the statutory ’call in’ procedures to ensure the Cabinet had taken all factors into account when making their decision.

"Two valuations were obtained based on unrestricted and restricted use.

"The restricted value assumed the building would be used as offices for charities or public services.

"The property was marketed for a considerable period of time.

"In the meantime, Crediton Town Council sought the registration of the building as an asset of community value.

"This gave the Town Council and other community groups the opportunity to submit bids - and ensured that the Council could not sell the property without giving the opportunity to bid within a prescribed timeframe.

"However, when full and final offers were confirmed the conditional bid from the Town Council would have resulted in the Council (Mid Devon) receiving less than 50 per cent of the restricted value, with other offers having been made at significantly higher levels.

"With the decision now taken, the sale is proceeding accordingly."