On 16
March 2026 Cabinet Committee – Property:-
(i) Authorised the Director of Property &
Regeneration to conclude an unconditional sale of the surplus Council owned
property, by the grant of a new 255-year lease to “the Purchaser” as detailed
in Exempt Appendices 2, 3 and 4 of the report;
(ii) Noted the Purchaser will also pay a
contribution towards the Council’s surveyor and legal costs, as detailed in
Exempt Appendix 2 of the report;
(iii) In the event the transaction does not
progress to completion, authorised the Director of Property & Regeneration
in consultation with the Strategic Director for Place, Prosperity and
Sustainability and the Deputy Leader to revert to any underbidders or remarket,
select a preferred purchaser agree terms, price and dispose, subject to
obtaining a supporting recommendation report from the Councils appointed agent,
to verify compliance with the Council’s duties under Section 123 of the Local
Government Act 1972; and
(iv) Authorised the City Solicitor and
Monitoring Officer to prepare, negotiate, execute and complete all relevant
legal documentation to give effect to the above.
THE
DEADLINE FOR CALL IN IS 1600 HOURS ON FRIDAY 20 MARCH 2026