Decision Maker: Cabinet Member for Finance and Smart City
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purchase of strategically located office
building from current owner/occupier with short term leaseback to
The Cabinet Member for Finance and Smart City has approved a gross spend of up to £16.5m for the acquisition of the freehold known as 215 Vauxhall Bridge Road.
Reasons for Decision
The Council intends to refurbish and redevelop the Queen Mother Sports Centre in the future and this purchase will enable greater value to be derived.
An inspection of the plans shows that incorporating this property into the wider site of the QMSC would not only enable better access for potential works, it would also significantly improve main road frontage on Vauxhall Bridge Road making development potential greater.
Publication date: 15/03/2022
Date of decision: 15/03/2022
Effective from: 23/03/2022