Decision Maker: Cabinet Member for Finance, Property and Regeneration
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Freehold of multi-tenanted mixed use building currently being openly marketed.
1. That this report be exempt from disclosure by virtue of the Local Government Act 1972 Schedule 12A, Part 1, Paragraph 3 (as amended), in that it contains information relating to the financial or business affairs of any particular person (including the authority holding that information).
2. That the Cabinet Member for Finance, Property and Regeneration agreed to delegate authority to the Executive Director of Finance and Resources to purchase the long-leasehold interest in the property as specified in the report, and to conclude all necessary negotiations and oversee legal documentation.
3. That the Cabinet Member for Finance, Property and Regeneration noted the Stamp Duty Land Tax costs and legal costs estimated for the acquisition as detailed in the report.
Reasons for Decision
The property will be held for investment purposes and may be used for temporary accommodation or let under Assured Shorthold Tenancies (ASTs).
Publication date: 17/06/2019
Date of decision: 17/06/2019
Effective from: 25/06/2019