Decision details

The information contained with the Appendix 1 (the exempt annex) is NOT FOR PUBLICATION in accordance with paragraph 3 of Schedule 12A of Part 1 of the Local Government Act 1972.  This is because the information is considered to be commercially confidential and further, subject to a confidentiality clause. The public interest test has been applied to the exempt information and it is considered that the need to retain the information as exempt at this stage outweighs the public interest in disclosing it.

Urgency, Special Urgency and Suspension of call-in procedures have been invoked in relation to this decision, as set out in the Council’s constitution at Part 4, Section 7(6), Section 7 (7), and Section 8 (10.22) respectively. This is with the agreement of the Chairman of the Growth, Environment, and Resources Scrutiny Committee and the Monitoring Officer. The decision is urgent due to the deadlines agreed with the purchaser in this open market situation of the 31 January 2017. The suspension of call-in has been granted as a delay in the implementation of the decision would significantly prejudice the Council’s interest in contracting within the agreed timescales.

The Cabinet Member:

1. Approved the purchase of the freehold of the property which is subject to a lease to a third party who are in occupation, as set out in the exempt annex; and

2. Delegated authority to the Corporate Director of Growth and Regeneration to approve the terms of the purchase and proceed to contract in consultation with the Cabinet Member for Resources.

The asset is being purchased using the invest to save policy and is likely to become operational for the benefit of a Council service at the end of the current lease to a third party.

The following options were considered and rejected as appropriate:

Option 1: Do nothing – The Council can choose not to purchase the asset on the open market on the agreed terms and conditions. The asset has an acceptable return on investment and the Invest to Save Policy is applicable in this instance.

Option 2: Reject the proposals set out in Recommendation 1 of this report – This option is open to the Council but to do so would prevent the purchase from progressing to contract and the owner will place the property back on the open market or proceed with any under-bidder.

Option 3: Agree to the proposal – the preferred and recommended option.

None.

None.