Decision details

Decision to delegate approval of a forthcoming disposal with a value of over £250,000 to the Corporate Director, Place, pursuant to Section F6 within the Scheme of Approval and Delegation for Financial Transactions.

RESOLVED:  That

(1)            authority be given to appropriate the property from the Housing Revenue Account (HRA) to the General Fund (GF), seeking all necessary consents as required;

(2)            the property be declared surplus to the Council’s requirements;

(3)            authority be delegated to the Corporate Director of Place, following consultation with the Portfolio Holder for Business, Employment & Property, to market the property, negotiate terms and approve the final terms of the disposal, and to enter into the contract and any associated documentation in connection with the disposal, subject to the sale of being on the basis of best consideration reasonably obtainable;

(4)            authority be delegated to the Corporate Director of Place, following consultation with the Portfolio Holder for Business, Employment & Property, to procure a specialist agent or agents to market the property where required.

Reason for Decision:  The appropriation of the property from the Housing and Revenue Account to the General Fund was recommended as the property was no longer used for housing purposes.  Following on from this disposal of the property was recommended as the property was deemed surplus to the Council’s service needs.  The sale would reduce the ongoing revenue cost burden as well as providing a capital receipt.