Agenda item

Disposal of Commercial Asset A

Council is asked to:

 

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

 

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

 

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.

 

Minutes:

Council considered a recommendation from the Corporate Policy and Resources Committee to

1.    Approve the proposed disposal on the terms set out in the report; and

2.    Delegate authority to the Chief Finance Officer and Group Head of Assets, in consultation with Chair and Vice-Chair of Corporate Policy and Resources Committee to agree minor variations to the Heads of Terms and adjustments to the sale price; and

3.    Delegate authority to 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.

 

A recorded vote was requested by Councillor Williams, and the results were as follows:

 

For (21):

M Attewell, C Bateson, S Beatty, M Beecher, T Burrell, J Button, J Caplin, J Doran, S Doran, S Dunn, R Geach, M Gibson, K Grant, S Gyawali, S Mooney, G Neall, L Nichols, K Rutherford, J Sexton, J Turner, B Weerasinghe

Against (8):

S Bhadye, J Boughtflower, M Buck, K Howkins, N Islam, M Lee, D Saliagopoulos, P Woodward

Abstain (3):

M Bing Dong, A Mathur, H Williams

 

 

Council RESOLVED to:

1.    Approve the proposed disposal on the terms set out in the report;

2.    Delegate authority to the Chief Finance Officer and Group Head of Assets, in consultation with Chair and Vice-Chair of Corporate Policy and Resources Committee to agree minor variations to the Heads of Terms and adjustments to the sale price; and

3.    Delegate authority to 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.

Supporting documents: