Decision details

(i)  To approve the reserve price for 20 Salerno Road as set out in Confidential Appendix 2;

(ii)  To confirm that the appointed auctioneer be authorised to sign the contract for sale immediately after the auction; and

(iii)  To note the estimated value of the capital receipt from this disposal has already been built into the funding of the capital programme. Any receipt that differs from the estimate will need to be considered corporately as part of any future prioritisation of resources.

1.  The property has been vacated by the Council and there is no service need for it. It is therefore surplus to Council requirements.

2.  Providing there is competitive bidding at the auction and the reserve is met, a sale at auction will achieve the earliest completion of the sale and achieve the statutory criteria of being the best consideration reasonably obtainable.

The property could be marketed by private treaty. This is considered to be a less certain way of achieving an unconditional sale for the property.

None