Decision details

To consider the report of the Leader of the Council seeking approval for the sale of Portsmouth Road car park and Peartree and Sholing local housing office.

(i)  To approve the sale of the Portsmouth Road car park and Local Housing Office as shown at Appendix 1;

(ii)  To delegate authority to Head of Property to agree the final price and other terms with the preferred bidder and in the event that the preferred bid is withdrawn or no longer remains best consideration to agree terms with an alternative purchaser and to continue such process as necessary, including re-marketing the property if necessary;

(iii)  To authorise Head of Property to take any further action necessary to give effect to this decision;

(iv)  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;

(v)  To note that any proceeds from this disposal will be allocated in line with the principles set out in the capital strategy.  At the time of setting the capital programme consideration will be given to the allocation of up to 25% of any surplus from this disposal and related disposals in the area, to enable local priorities within the Woolston and Peartree wards to be undertaken.

The car park is subject to a closing order and the housing office is to be vacated when it relocates to the new Centenary Quay library. There is therefore no service need for the properties.

Sale of the properties will generate a significant capital receipt.

Sell to an alternative bidder. This would not achieve best consideration.

Do not sell. The decision has been taken to close the car park and the housing office.