Decision Details

Report of Director, Inclusive Growth

On 22 May 2019, Cabinet:-

1. Declared the land and property assets listed in Appendix 1 to the report surplus to Council requirements and authorise their subsequent sale as detailed;

    

2. Noted that in accordance with existing surplus property procedures no internal reuse of the properties listed in Appendix 1 to the report has been identified;

    

3. Subject to disposals progressing, noted the proposed use of receipts from the sale of Investment Portfolio assets in line with the Council’s approved Property Strategy 2018/19-2023/24, and the proposed mitigations for budgeted net income foregone in respect of the sale of non-portfolio assets as detailed in sections 7.3 to the report;

    

4. Noted the approval of final sale terms for those assets being offered as part of Prospectus 2 will be the subject of further reports to Cabinet;

    

5. Authorised the City Solicitor where necessary, to advertise the permanent loss of public open space and consider any objections in accordance with Section 123(2a) of the Local Government Act 1972;

    

6. Authorised the City Solicitor to negotiate, execute and complete all necessary legal documents to give effect to the above decisions.