Decision details

Sale of Greenwood House MAR15/CMDN/27

Decision Maker: Cabinet Member for Resources

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

The Cabinet Member:

 

Noted that the Council is seeking to deliver Capital Receipts from the sale of Greenwood House,      South Parade which is surplus to requirements, in order to support the Council’s Medium Term Financial Plan (MTFP) 

 

Noted that officers have complied with Council rules on asset disposals and that the property is allocated for disposal in the financial year (FY)2014/15 Capital Receipts Programme; and

 

Authorised John Harrison, Corporate Director: Resources, to delegate authority to Jonathan Lewis, Service Director – Education, People Resources and Corporate Property to negotiate terms up to £500,000 and to complete the sale of the property by private treaty or public auction.

Reasons for the decision:

The recommendation is being made to ensure that the Council meets its Capital Receipts Programme requirements and to minimise related slippage.

 

Alternative options considered:

Option 1 - Do nothing. 

 

An operational decision to close the former care home was taken in advance of the property being declared surplus, therefore disposal is the consequential option in the absence of an internal requirement for the asset.  A do nothing option is therefore not viable.

 

Option 2 - Retain the property and generate investment income.

 

Significant investment in the site and buildings would be required to generate an income from an alternative use. Such an approach would conflict with inclusion of the asset in the Capital Receipts Programme. Moreover, officers would not recommend investing in and retaining this particular asset in the Councils portfolio to generate investment income. Therefore this is not a viable option.

 

Option 3 - Re-use or redevelop the property as an alternate operational site for another Service.

 

No alternative operational requirements have been identified for the property or site. This is not a viable option.

 

Interests and Nature of Interests Declared:

None.

Background Documents:

A conveyance plan is attached showing the asset coloured red.

Publication date: 24/03/2015

Date of decision: 24/03/2015

Effective from: 28/03/2015

Accompanying Documents: