Issue details

Purchase of a property in Peterborough City Centre to be used for housing – KEY/18JAN21/02

Appendix A is NOT FOR PUBLICATION in accordance with paragraph (s) 3 of Schedule 12A of Part 1 of the Local Government Act 1972 in that it contains information relating to financial or business affairs of the Council. The public interest test has been applied to the information contained within the exempt annex and it is considered that the need to retain the information as exempt outweighs the public interest in disclosing it, as commercial negotiations regarding the purchase of this property are still ongoing and therefore it is not appropriate for the financial details to be made public at this juncture.


The Cabinet Members:


1.    Approved the freehold purchase of 88 Lincoln Road.

2.    Approved associated stamp duty land tax and professional costs.

3.    Accepted the funding of £878,830 from MHCLG.


Decision type: Key

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

Decision status: Recommendations Approved

Wards affected: Central;

Notice of proposed decision first published: 18/12/2020

Anticipated restriction: Part exempt  - View reasons

Explanation of anticipated restriction:
The decision will include an exempt annexe. By virtue of paragraph 3, information relating to the financial or business affairs of any particular person (including the authority holding that information).

Decision due: Not before 19th Mar 2021 by Cabinet Member for Housing, Culture and Recreation

Decision due: Not before 19th Mar 2021 by Cabinet Member for Strategic Planning and Commercial Strategy and Investments

Department: Place and Economy

Contact: Tristram Hill, Strategic Asset Manager, 07849 079787, Email: tristram.hill@peterborough.

Consultation process

Relevant internal and external stakeholders

Consultation is in its early stages as commercial negotiations are still in progress

Relevant Scrutiny Committee: Growth, Environment and Resources Scrutiny Committee