Decision details

That:

1.  It be authorised to accept Offer B received for the Council’s freehold interest and to proceed to completion with the transaction.

2.  It be authorised to accept Offer B with such other terms as set out in Part 2 of this report.

3.  Authority be delegated to Director of Housing, Planning and Regeneration to finalise terms of sale to proceed with the transaction and conclude the disposal.

4.  Authority be delegated to the Director of Housing, Planning and Regeneration to accept Offer C, formalise the terms and complete the transaction, should Offer B fail to complete.

5.  The legal and professional costs associated with completing the transaction be funded from the capital receipt received.

6.  It be noted that details of the commercial terms of the offer being recommended for freehold disposal are commercially sensitive and therefore included within Part 2 of this report.