Issue - meetings

The Committee resolved to recommend to Council to:

a)    Approve the disposal of Thameside House, Staines, to the preferred bidder (A) as set out in more detail in the confidential Appendix 1 attached to the report;

b)    Delegate authority to the Group Head of Assets in consultation with the Chair and Vice-Chair of the Business, Infrastructure, and Growth Committee to agree any variations to the terms of the disposal relating to Thameside House;

c)    Delegate authority to the Group Head of Corporate Governance to enter into a transfer to complete the disposal and any ancillary legal documentation required in relation to the proposed disposal of Thameside House.

The Committee considered a report from the Asset Manager on the proposed disposal of Thameside House to the preferred bidder on the basis that the developer will not demolish the building but will adapt it under Permitted Development. The Committee were advised of the bids received and the benefits of each. The preferred bid was recommended to achieve best value, would support Corporate Plan objectives, responds to residents’ concerns about overdevelopment and would contribute towards the Council’s financial resilience by generating a capital receipt which would enable the Council to pay down some of its debt early.

The Committee expressed concern over the lack of social housing offered by the bidders.

It was proposed by Councillor Bateson, seconded by Councillor Clarke, and resolved to exclude the public and press for the remainder of the discussion on this item in accordance with Paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972 (as amended) as it was likely to disclose information relating to the financial of business affairs of any particular person (including the authority holding that information) and in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information because disclosure to the public would prejudice the financial position of the authority in being able to undertake even-handed negotiations and finalizing acceptable contract terms.

The Committee resolved to recommend to Council to:

a)    Approve the disposal of Thameside House, Staines, to the preferred bidder (A) as set out in more detail in the confidential Appendix 1 attached to the report;

b)    Delegate authority to the Group Headd of Assets in consultation with the Chair and Vice-Chair of the Business, Infrastructure, and Growth Committee to agree any variations to the terms of the disposal relating to Thameside House;

c)    Delegate authority to the Group Head of Corporate Governance to enter into a transfer to complete the disposal and any ancillary legal documentation required in relation to the proposed disposal of Thameside House.