Decision details

This item was considered at the meeting held Tuesday 17 February

The Committee resolved to:

1.    Agree in principle the offer and the proposed disposal,

2.    Make a recommendation to Council to:

a)    Approve the proposed disposal on the terms set out in this report,

b)    Delegate authority to the Chief Finance Officer and Group Head of Assets, in consultation with the Chair and Vice-Chair of the Corporate Policy and Resources Committee and the chair and Vice-Chair of the Commercial Assets Sub-Committee, to agree minor variations to the Heads of Terms and the sale price within a tolerance of 10% of the agreed price; and

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.