On 28 April 2026 Cabinet:-
(i)
Noted
the decision of the Economy, Skills and Culture Overview and Scrutiny Committee
to refer the decision ‘Sale of Land at Fox Street, Birmingham B5 5AD’ taken by
Cabinet Committee – Property on 16 March 2026 for reconsideration and the ‘call
in’ criteria met;
(ii)
Considered
the response to the ‘call in’ criteria agreed by the Economy, Skills and
Culture Overview and Scrutiny Committee;
(iii)
Cabinet
confirmed the original decision on Sale of Land at Fox Street,
Birmingham B5 5AD’ taken at the Cabinet Committee – Property Meeting on
16 March 2026, as set out below in paragraphs (a) – (d):-
(a)
Authorised
the Director of Property & Regeneration to conclude an unconditional sale
of the surplus Council owned property, by the grant of a new 255-year lease to
“the Purchaser” as detailed in Exempt Appendices D2, D3 and D4;
(b)
Noted
the Purchaser will also pay a contribution towards the Council’s surveyor and
legal costs, as detailed in Exempt Appendix A2;
(c)
In
the event the transaction does not progress to completion to authorise the
Director of Property & Regeneration in consultation with the Strategic
Director for Place, Prosperity and Sustainability and the Deputy Leader to
revert to any underbidders or remarket, select a preferred purchaser agree
terms, price and dispose subject to obtaining a supporting recommendation
report from the Councils appointed agent to verify compliance with the
Council’s duties under Section 123 of the Local Government Act 1972;
(d)
Authorised
the City Solicitor and Monitoring Officer to prepare, negotiate, execute and
complete all relevant legal documentation to give effect to the above decisions.
THIS DECISION IS
NOT SUBJECT FOR CALL IN.