Decision details

Disposal - 1, St Mary’s Terrace, W2 1SU

Decision Maker: Cabinet Member for Finance and Council Reform

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes


Summary of Decision:

The Cabinet Member has approved the disposal of 1, St Mary’s Terrace to Mouskos LLP, for the sum not less than £3,600,000 to the preferred bidder as set out in the exempt Appendix 1.


Reason for Decision:


Following recommendation by Strategic Property Board in July 2021 and a Cabinet Member briefing on 21 March 2022, the Council’s Head of Capital Programmes appointed an agent (Knight Frank LLP) to promote a disposal on the open market.


A guide price of offers above £3 million was stipulated with initial offers received on the 1 June 2022.  Following further review and briefing to the Cabinet Member on the 29 June 2022, BAFOs were received on the 4 July 2022.  This decision will generate a capital receipt which was not foreseen in the Council Capital Strategy at the time of the March 2022 Full Council report.




Publication date: 25/07/2022

Date of decision: 25/07/2022

Effective from: 02/08/2022

Accompanying Documents: