This section allows you to view the general details of a Decision
Details
Title:
Proposed Sale of Commercial Freehold Ground Rents By Public Auction
Include item on Forward Plan/ Key Decision
No
Urgent Decision - Not in Forward Plan
No
Details for Agenda Sheet
Report of
Director of Planning, Transport & Sustainability – Ian MacLeod
Director of Council Management – Rebecca Hellard
City Solicitor and Monitoring Officer – Suzanne Dodd
Implementation Date (not before meeting on)
Mon 17 Jan 2022
Purpose
This report seeks authority for the sale of the Council’s freehold reversionary interests listed in Exempt Appendix 2 of this report by public auction.
The subject properties are shown edged bold on individual attached plans at Appendix 1.
The report seeks authority under paragraph 3.2(xi) of Part E of the constitution, for the approval of acquisitions and disposals from the Investment Property portfolio to the Leader and Cabinet Member for Finance and Resources, jointly with the Director - Inclusive Growth, Chief Finance Officer and the City Solicitor (or their delegates, now Acting Director, Inclusive Growth, Director of Council Management (Interim) and City Solicitor and Monitoring Officer) up to a limit of £25m in any one transaction.
The recommendations contained in this and the Exempt Appendix 2 are fully in line with the Council’s wider ambitions and plans for inclusive growth and financial stability. The recommendations are in compliance with the Birmingham City Council Plan and Budget 2018-2022 and the Property Strategy.
Options for these property interests have been fully considered and the recommended sale route provides the best outcomes for the City as detailed in the Exempt Appendix 2.
Decision Maker
Cabinet Member and Chief Officer
Chief Officer Decision Maker
Decision Maker:
Cabinet Member
Directorate
Inclusive Growth
Decision Outcome
On the 17 January 2022, the Cabinet Member of Finance and Resources;
-
Authorised the Assistant Director of Property to conclude the sale of the Council’s freehold reversionary interests listed in Exempt Appendix 2 by public auction.
-
Authorised the Assistant Director of Property, where deemed appropriate, to set individual reserve prices in excess of £200,000.
-
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 DATE 20TH JANUARY 2022.
Is the Decision Maker Aware of the Decision:
No
Is the Head of Services Aware of the Decision:
No
Is Decision County Wide:
No
Would the recommended decision be contrary to the budget and policy framework:
No
Additional Information
Decision Criteria
This Decision does not contain any decision criteria records.
Wards
Balsall Heath West; Bordesely & Highgate; Ladywood; Nechells; Newtown; Sparkbrook & Balsall Heath East
Topics
This Decision does not contain any Topic records
Overview and Scrutiny
Economy and Skills Overview and Scrutiny Committee
Resources Overview and Scrutiny Committee
This section allows you to view the reports for the Decision.
This section displays the history of the Decision.
Decision History
17/01/2022 11:59:14 | Wendy Hill | Business Item Created | |
17/01/2022 11:59:14 | Wendy Hill | Committee Added | Cabinet Member and Chief Officer |
17/01/2022 12:01:12 | Wendy Hill | Ward Added | Balsall Heath West |
17/01/2022 12:01:12 | Wendy Hill | Ward Added | Bordesely & Highgate |
17/01/2022 12:01:13 | Wendy Hill | Ward Added | Ladywood |
17/01/2022 12:01:13 | Wendy Hill | Ward Added | Nechells |
17/01/2022 12:01:13 | Wendy Hill | Ward Added | Newtown |
17/01/2022 12:01:14 | Wendy Hill | Ward Added | Sparkbrook & Balsall Heath East |
17/01/2022 12:02:10 | Wendy Hill | Meeting Added | 17/01/2022 12:00AM |
17/01/2022 12:02:54 | Wendy Hill | Contacts Edited | |
Approval/Comments
No history found.