Issue - meetings

Report of the Cabinet Member for Resources, seeking approval to the disposal of the Portland Terrace NCP car park and 173-178 High Street freehold investments, attached.

DECISION MADE: (Ref: CAB 12/13 10153)

On consideration of the report of the Cabinet Member forResources, Cabinet agreed the following:

(i)  to approve the principle of the disposal of the Council’s freehold investments at Portland Terrace NCP Car Park and 173-178 High Street.

(ii)  to delegate authority to the Head of Property, Procurement and Contract Management subject to the agreement of the Cabinet Member for Resources 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 has already been built into the funding of the capital programme. Any receipt that differs from the estimates will need to be considered corporately as part of any future prioritisation of resources.