Decision Details

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This section allows you to view the general details of a Decision

Details

Status:
Implemented
Title:
Industrial Ground Rent Sales Programme
Include item on Forward Plan
Yes
Is Key Decision
No
Item Contains Exempt/Private Reports
No
Reference:
013126/2024
Urgent Decision - Not in Forward Plan
No
Details for Agenda Sheet
Report of Strategic Director, Place Prosperity & Sustainability
Implementation Date (not before meeting on)
Thu 25 Jul 2024
Purpose
To seek approval to market multiple industrial sites let on long leases via an externally appointed agent using an online ‘platform’ marketing approach.
Key Portfolio
Deputy Leader and Economy & Skills
Decision Maker
Chief Officer Decision Maker
------ N/A ------
Reason For Key Decision
Sale of the assets to be marketed is likely to generate in excess of £5.1m in capital receipts.
Relevant Documents
Decision Type:
Committee
Decision Maker:
Cabinet Committee – Property
Directorate
Place Prosperity & Sustainability
Other Information
Private Reason

3. Information relating to the financial or business affairs of a particular person (including the authority holding that information).

Decision Outcome

On 25 July 2024, Cabinet Committee – Property:-

 

(i) Authorised the Assistant Director of Investment & Valuation to conclude the sale of the Council’s freehold property interests at a minimum of the ‘reserve’ values listed in Exempt Appendix 3 to the report by online ‘platform’ sale through its appointed agents during the remainder of 2024;

 

(ii) Authorised the Assistant Director of Investment & Valuation, where deemed appropriate, to set individual reserve prices in excess of £200,000;

 

(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 WEDNESDAY 31 JULY 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

Nechells; Newtown; Small Heath

Topics

This Decision does not contain any Topic records

Overview and Scrutiny

Corporate & Finance Overview and Scrutiny Committee
Economy, Skills and Culture Overview and Scrutiny Committee

This section allows you to view the reports for the Decision.

Reports

  1. pdf CCP Report Industrial Ground Rent Sales Programme (204Kb)
    1. pdf Appendix 1 (List of Assets) (29Kb)
    2. pdf Exempt Appendix 2 - Private Report
    3. pdf Exempt Appendix 3 (Lease and Reserve Values) - Private Report
    4. pdf Appendix 4 - Site Plans (1983Kb)
    5. pdf Appendix 5 - EIA000470 Industrial Ground Rent Sales Programme (664Kb)

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 15.
24/06/2024 13:00:58Ghalub Hussain Business Item Created 
24/06/2024 13:00:58Ghalub Hussain Committee AddedCabinet Committee – Property
24/06/2024 13:00:58Ghalub Hussain Meeting Added25/07/2024 1:00PM
24/06/2024 13:02:08Ghalub Hussain Ward AddedNechells
24/06/2024 13:02:08Ghalub Hussain Ward AddedNewtown
24/06/2024 13:02:08Ghalub Hussain Ward AddedSmall Heath
24/06/2024 13:02:25Ghalub Hussain OS Committee AddedCorporate & Finance Overview and Scrutiny Committee
24/06/2024 13:02:25Ghalub Hussain OS Committee AddedEconomy, Skills and Culture Overview and Scrutiny Committee
24/06/2024 13:03:31Ghalub Hussain Contacts Edited 
24/06/2024 13:05:55Ghalub Hussain Consultation/Comments Edited 

Approval/Comments

No history found.