Decision details

Committee were advised that this asset was currently underperforming and as such an Agent had been appointed following a robust procurement exercise to undertake a targeted marketing exercise. A potential purchaser had been found and the Committee were asked to consider the offer and make a recommendation to Council.

 A recorded vote was requested.

The Chair used their casting vote to vote ‘For’, therefore

Committee resolved to:

1.    Consider and agree in principle the offer and the proposed disposal,

2.    Agree to recommend to Council to:

2.1  approve the proposed disposal on the terms set out in the exempt report,

2.2  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, to agree minor variations to the Heads of Terms and adjustments to the sale price; and

2.3  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.