Decision Details

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Details

Status:
Implemented
Title:
Proposed Sale of Surplus Freehold Property Assets to Existing Tenants
Include item on Forward Plan
No
Is Key Decision
No
Item Contains Exempt/Private Reports
No
Reference:
012602/2024
Urgent Decision - Not in Forward Plan
No
Details for Agenda Sheet
Report of Strategic Director Place, Prosperity and Sustainability
Implementation Date (not before meeting on)
Thu 29 Feb 2024
Purpose
To seek authority for the sale of the Council’s freehold property interests to existing commercial tenants
Key Portfolio
Leader
Decision Maker
Cabinet Member and Chief Officer
Chief Officer Decision Maker
------ N/A ------
Reason For Key Decision
Relevant Documents
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 13 March 2024, Cabinet Committee – Property:-

(i)          Authorised the Assistant Director of Investment & Valuation, in consultation with the Interim Finance Director (s151 Officer) and the City Solicitor, to conclude the sale of the Council’s freehold reversionary interest, to the current lessees at the values listed in Exempt Appendix 2 to the report;

(ii)         Noted that the purchaser will pay a contribution towards the Council’s surveyor 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 MONDAY 18 MARCH 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

Balsall Heath West; Nechells; Soho & Jewellery Quarter

Topics

This Decision does not contain any Topic records

Overview and Scrutiny

Economy and Skills Overview and Scrutiny Committee
Finance and Resources Overview and Scrutiny Committee

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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 16.
20/02/2024 18:53:29Janet HinksBusiness Item Created 
20/02/2024 18:53:29Janet HinksCommittee AddedCabinet Committee – Property
20/02/2024 18:53:29Janet HinksMeeting Added29/02/2024 11:00AM
20/02/2024 18:54:46Janet HinksWard AddedBalsall Heath West
20/02/2024 18:54:46Janet HinksWard AddedNechells
20/02/2024 18:54:46Janet HinksWard AddedSoho & Jewellery Quarter
20/02/2024 18:55:22Janet HinksOS Committee AddedEconomy and Skills Overview and Scrutiny Committee
20/02/2024 18:55:22Janet HinksOS Committee AddedFinance and Resources Overview and Scrutiny Committee
20/02/2024 18:56:02Janet HinksContacts Edited 
20/02/2024 18:56:46Janet HinksGeneral Details Edited 

Approval/Comments

No history found.