Decision details

Before the Committee was a report by the Director for Place, copies of which had been circulated to all Members and a copy of which is attached to the signed copy of these minutes as Item 12.

This report before members were being brought for a decision to sell the freehold of the properties subject to the existing long ground leases in place.  The receipt would assist in offsetting future borrowing requirements. The report set out the rationale for sale and the benefits to the Council. An Exempt Appendix is attached outlining the commercially sensitive elements of the proposed disposals.

Decision

1.     That authority be delegated to the Assistant Director for Regenerative Development to sell the properties and achieve Best Consideration, in consultation with the Cabinet Member for Resources.

2.     That authority be delegated to the Assistant Director for Regenerative Development to effect the sales to the existing tenants or others and test the sale amounts by reference to a Red Book valuation thus demonstrating Best Consideration or a sum in excess of Best Consideration

Call-in

The call-in deadline for the decisions will be 5.00pm on 26 March 2024.