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Issue details

Purchase of Social Housing Development – KEY/30SEP19/01

There is an exempt annex attached to this report that is NOT FOR PUBLICATION by reason of paragraph 3 of Schedule 12A of Part 1 of the Local Government Act 1972 because it contains commercially sensitive information. The public interest test has been applied to the information contained within this exempt annex and it is considered that the need to retain the information as exempt outweighs the public interest in disclosing it. To release the business case for the acquisition with financial assessment would jeopardise negotiations which are ongoing.

 

The Cabinet Member for Housing Culture and Recreation and the Cabinet Member for Strategic Planning and Commercial Strategy and Investments:

 

1.    Approved the freehold purchase of St Michael’s Gate at £13.38m – consisting of 72 properties used for temporary accommodation.

2.    Approved the associated professional fees.

3.    Approved the capital expenditure for upgrading the windows.

 

Decision type: Key

Reason Key: Expenditure or savings greater than £500,000;

Decision status: Recommendations Approved

Wards affected: East;

Notice of proposed decision first published: 30/08/2019

Anticipated restriction: Part exempt  - View reasons

Explanation of anticipated restriction:
There is an exempt annex attached to this report that is NOT FOR PUBLICATION by reason of paragraph 3 of Schedule 12A of Part 1 of the Local Government Act 1972 because it contains commercially sensitive information. The public interest test has been applied to the information contained within this exempt annex and it is considered that the need to retain the information as exempt outweighs the public interest in disclosing it. To release the business case for the acquisition with financial assessment would jeopardise negotiations which are ongoing.

Decision due: Not before 8th Oct 2019 by Cabinet Member for Housing, Culture and Recreation

Decision due: Not before 8th Oct 2019 by Cabinet Member for Strategic Planning and Commercial Strategy and Investments

Lead member: Councillor Steve Allen, Cabinet Member for Housing, Culture and Recreation steve.allen@peterborough.gov.uk Cabinet Member for Housing, Culture and Recreation

Lead director: Acting Corporate Director Resources

Department: Resources

Contact: Anthony Smith, Strategic Asset Management Surveyor Anthony Smith, Strategic Asset Management Surveyor, Email: anthony.smith@nps.co.uk Anthony Smith, Strategic Asset Management Surveyor, Email: anthony.smith@nps.co.uk.

Consultation process

Relevant Internal and External Stakeholders

Relevant Scrutiny Committee: Adults and Communities Scrutiny Committee

Decisions

Agenda items

Documents