Decision Details

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This section allows you to view the general details of a Decision

Details

Status:
Implemented
Title:
Sale of The Elegance Suite, 129-142 Great Francis Street, Nechells, Birmingham B7 4QX
Include item on Forward Plan
No
Is Key Decision
No
Item Contains Exempt/Private Reports
No
Reference:
013118/2024
Urgent Decision - Not in Forward Plan
No
Details for Agenda Sheet
Report of Strategic Director of Place, Prosperity and Sustainability
Implementation Date (not before meeting on)
Wed 26 Jun 2024
Purpose

This report seeks authority for the sale of the Council’s freehold reversionary interest in the Elegance Suite, 129-142 Great Francis Street, Nechells, Birmingham to the tenant occupier.

Key Portfolio
Deputy Leader and Economy & Skills
Decision Maker
Chief Officer Decision Maker
------ N/A ------
Reason For Key Decision
Relevant Documents
  • Property Strategy (Approved by Full Cabinet – November 2018)
  • Property Investment Strategy (Approved by Full Cabinet – July 2019)
Decision Type:
Committee
Decision Maker:
Cabinet Committee – Property
Directorate
Place, Prosperity and Sustainability
Other Information
Private Reason
Exempt information Schedule 12A of the Local Government Act 1972 (as amended) Paragraph 3. Information relating to the financial or business affairs of any particular person (including the council)
Decision Outcome

On 26 June 2024, Cabinet Committee – Property:-

 

(i) Authorised the Strategic Director of Place, Prosperity and Sustainability to conclude an unconditional sale of the Council’s freehold reversionary interest, to the current tenant;

 

(ii) Noted that the purchaser will pay a contribution towards the Council’s surveyor’s and legal costs, as detailed in Exempt Appendix 2 to the report;

 

(iii) Authorised the City Solicitor 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 TUESDAY 2 JULY 2024.

 

Would the recommended decision be contrary to the budget and policy framework:
No
Decision Options:

Additional Information

Reg 10
Reg 11

Decision Criteria

This Decision does not contain any decision criteria records.

Wards

Bordesely Green

Topics

This Decision does not contain any Topic records

Overview and Scrutiny

Corporate & Finance Overview and Scrutiny Committee
Economy, Skills and Culture Overview and Scrutiny Committee

This section allows you to view the reports for the Decision.

Reports

  1. pdf Sale of The Elegance Suite, 129-142 Great Francis (114Kb)
  2. pdf CCP Report Sale of Elegance Suite (182Kb)
    1. pdf Appendix 1 to ELEGANCE SUITE 20215v4 (354Kb)
    2. pdf Exempt Appendix 2 - Recommendation - Elegance Suite V3 - Private Report
    3. pdf Exempt Appendix 3 - Heads of Terms THE ELEGANCE SUITE - Private Report
    4. pdf Appendix 4 - EIA000365 Sale of The Elegance Suite, 129-142, Great Francis Street, Nechells (529Kb)
    5. pdf Exempt Appendix 5 - Sale Decision Matrix - Elegance Suite 14 05 24 v2 - Private Report

This section displays the history of the Decision.

Decision History

Date & Time CreatedUser Full NameStatus DescriptionDetails
12
 Page 1 of 2, items 1 to 10 of 13.
18/06/2024 13:25:14Ghalub Hussain Business Item Created 
18/06/2024 13:25:14Ghalub Hussain Committee AddedCabinet Committee – Property
18/06/2024 13:25:14Ghalub Hussain Meeting Added26/06/2024 3:00PM
18/06/2024 13:25:46Ghalub Hussain Ward AddedBordesely Green
18/06/2024 13:26:22Ghalub Hussain OS Committee AddedCorporate & Finance Overview and Scrutiny Committee
18/06/2024 13:26:22Ghalub Hussain OS Committee AddedEconomy, Skills and Culture Overview and Scrutiny Committee
18/06/2024 13:27:11Ghalub Hussain Contacts Edited 
18/06/2024 13:28:57Ghalub Hussain Status ChangedDecision Scheduled [1]
18/06/2024 13:29:51Ghalub Hussain Report AddedDocument ID 254598: CCP Report Sale of Elegance Suite
18/06/2024 14:51:09Errol WilsonReport AddedDocument ID 254613: Sale of The Elegance Suite, 129-142 Great Francis

Approval/Comments

No history found.