Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Sale of PCC freehold interest following the
disposal of long leasehold interest by leaseholder.
Cabinet considered the report and RESOLVED to:
1. Approve the disposal of the freehold land at Hereward Cross as set out below and detailed in the Heads of Terms within the Appendix 1 to the report and subject to receipt of a satisfactory Red Book Valuation.
2. Delegates authority to the Executive Director of Corporate Services and Director of Law and Governance after consultation with the Cabinet Member for Finance and Corporate Governance, following receipt and approval of the Red Book Valuation to take all necessary steps to effect the decision in Recommendation 1 including entering into all agreements.
The Council needs to secure capital receipts in this financial year and up to 24/25 as part of its overall capital programme
The Council has the option to continue with the lease currently in place and receive the annual rent. However, this will not enable the Council to fulfil its requirement for significant capital receipts.
Publication date: 13/03/2023
Date of decision: 13/03/2023
Decided at meeting: 13/03/2023 - Cabinet
Effective from: 17/03/2023