On 8 August 2024, Cabinet Committee –
Property:-
(i) Authorised the Assistant Director of
Investment and Valuation to conclude the terms for a lease regearing for an
initial premium, to the current developer as tenant of the Council owned land
at 10 Gough Street, Birmingham. B1 1HN (“the Property”) as shown edged bold
black on the attached site plan at Appendix 1 and extending to 1,113 sqm by the
grant of a new 250-year lease to the Developer Tenant as detailed in Exempt
Appendix 2,3 & 4 to the report;
(ii) Authorised the Assistant Director of
Investment and Valuation to conclude the conditional sale of the Council’s
freehold interest for an additional premium upon the practical completion of a
student housing scheme, also detailed in Exempt Appendix 2,3 & 4 to the
report;
(iii) 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;
(iv) 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 THURSDAY 15 AUGUST 2024.