Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Best consideration definition

What does Best consideration mean? In practice, “best consideration” means securing the best price and terms reasonably obtainable on the open market when a public body (typically a local authority) disposes of land or property. In England and Wales this duty is set by statute: a council must not dispose of land (other than a short tenancy, generally seven years or less) for less than the best consideration reasonably obtainable without consent (section 123, Local Government Act 1972). General Disposal Consents permit disposals at an undervalue (commonly up to £2 million) where they promote economic, social or environmental well‑being. Scotland applies an equivalent rule...

Local authority land disposals in England and Wales: LGA 1972 s123 best consideration, General Disposal Consent 2003, TCPA s233 and GLA undervalue consents

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Practice notes

Duty to achieve Best consideration on disposal of land held by principal councils

General duty

Under section 123(1) of the Local Government Act 1972 (LGA 1972), principal councils have broad freedom to dispose of land as they see fit. This covers, for example, selling the freehold, granting or assigning leasehold interests, and creating easements. In England, principal councils are those elected for a non-metropolitan county, a district or a London borough; in Wales, they are a county or county borough. In this note they are collectively described as local authorities (LAs). That general power is curtailed by section 123(2), which requires LAs to secure the best consideration reasonably obtainable on a disposal, unless approval has been given by the Secretary of State for Communities and Local Government/Ministers. Disposals by way of a short tenancy are excluded from this duty; a short tenancy means granting a term not exceeding seven years, or assigning a term which, at the date of assignment, has seven years or less left to run. In addition, certain statutes impose particular procedural steps that must be followed before specified land can be disposed of...

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Web page updated on 21/05/2026

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