Issue - meetings

Report of the Cabinet Member for Resources, Leisure and Culture seeking approval for the disposal of The Shirley Centre and The David Lloyd Leisure Centre freehold investments, attached.

DECISION MADE  REF: (CAB 11/12 7971)

On consideration of the report of the Cabinet Member for Resources, Leisure and Culture, Cabinet agreed the following:

(i)  to approve the principle of the disposal of the Council’s freehold investments at The Shirley Centre and The David Lloyd Leisure Centre;

(ii)  to delegate authority to the Senior Manager, Property, Procurement and Contract Management after consultation with the Director for Corporate Services and the Cabinet Member for Resources, Leisure and Culture to approve the sale to the preferred bidders at not less than the minimum prices set out in the confidential appendix, and to subsequently negotiate and carry out all ancillary matters to enable disposal of the sites;

(iii)  that the Head of Legal, HR and Democratic Services be authorised to enter into any legal documentation necessary in respect of the sales;

(iv)  to note that the estimated value of the capital receipt from these disposals had already been built into the funding of the capital programme. Any receipt higher than the estimate will be used to reduce the funding deficit. A receipt lower than this will increase the deficit;

(v)  to authorise the Head of Legal, HR and Democratic Services to advertise the proposed disposal of the David Lloyd Centre (held under the Public Health Acts) in accordance with Section 123 Local Government Act 1972; and

(vi)  should any objections be received, to refer these objections to Cabinet for determination.  If no objections are received, to authorise the freehold disposal of the David Lloyd Centre on the terms set out in this report without further referral to Cabinet.

NOTE:

in accordance with the Council’s Constitution, specifically the Access to Information procedure Rules contained within the Constitution, the press and public be excluded from the meeting in respect of any consideration of the Confidential Appendix 3 to as it contains information deemed to be exempt from general publication based on Category 3 of Paragraph 10.4 of the Council’s Access to Information Procedure Rules. The appendix includes a table showing the rental income and values of property which, if disclosed prior to entering into any contracts, could put the Council at a commercial disadvantage. In applying the public interest test it is not considered appropriate to publish this information as it could influence bids for a property which may be to the Council’s financial detriment