Decision Details

Director of Council Management – Rebecca Hellard                                         

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.

On the 17 January 2022, the Cabinet Member of Finance and Resources;

1. 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.

2. Authorised the Assistant Director of Property, where deemed appropriate, to set individual reserve prices in excess of £200,000.

3. 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 20^TH JANUARY 2022.