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  • Decision details

    Transfer of former Bugle PH into ownership of Knowle Green Estates Ltd

    Decision Maker: Chief Executive, Chief Finance Officer

    Decision status: Recommendations Approved

    Is Key decision?: No

    Is subject to call in?: No

    Decision:

    Having received up to date valuation advice prior to transfer, the Chief Executive in Consultation with the Leader, Portfolio Holder for Finance and Chief Finance Officer, agreed to transfer the former Bugle PH into the ownership of Knowle Green Estates Ltd for nil cash consideration:

    Having received up to date valuation advice prior to transfer, the Chief Finance Officer in Consultation with the Leader, Portfolio Holder for Finance and Chief Executive, agreed to loan to Knowle Green Estates Ltd (if necessary) the funds to enable it to purchase at full market value.

    Reasons for the decision:

    To allow the Council and the Company to move properties to the most advantageous holding organisation.

    The property will provide Knowle Green Estates with an important asset that will support the Council in delivering its ambitious housing and regeneration programme across the Borough to help meet the diverse needs of its residents.

    Alternative options considered:

    Option 1 - to transfer properties to KGE Ltd
    Option 2 - not to transfer

    Publication date: 08/03/2019

    Date of decision: 07/03/2019