Disposal of Freehold Interest in General Fund Properties (Forward Plan Reference FP873)
Exempt report of the Corporate Director (Resources, Environment and Cultural Services) on the proposed sale of blocks of flats.
Decision:
(1) The disposal of the site detailed in the exempt report was approved.
(2) The following approach to the disposal was approved:-
• The residents to be approached to offer them the opportunity to purchase for the price detailed in the exempt report
• Should residents not wish to purchase, the property be placed into auction.
(3) Delegated authority was given to the Corporate Director (Resources, Environment and Cultural Services), in consultation with the Executive Member (Resources), to set the reserve price based on updated valuations if the property proceeded to auction.
Minutes:
Exempt report of the Corporate Director (Resources, Environment and Cultural Services) on the proposed sale of blocks of flats.
(1) The Decision Taken
RESOLVED:
(1) That the disposal of the site detailed in the exempt report be approved.
(2) That the following approach to the disposal be approved:-
• Residents to be approached to offer them the opportunity to purchase for the price detailed in the exempt report
• Should residents not wish to purchase, the property be placed into auction
(3) That delegated authority be given to the Corporate Director (Resources, Environment and Cultural Services), in consultation with the Executive Member (Resources), to set the reserve price based on updated valuations if the property proceeded to auction.
(2) Reasons for the Decision
The Council owned three blocks of flats let on long leases. It was proposed that the Council sell the freehold interest of these properties and an offer be made to the current tenants first before putting them in an auction.