-
Decision details
Commercial Property Purchases (Part 2 Report)
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
Decisions:
CONFIDENTIAL BUSINESS
Councillor Forward proposed a motion for the exclusion of the public from the meeting, seconded by Councillor Rogers.
RESOLVED that the public be excluded from the meeting during the, consideration of the items of business listed below because it is likely that if members of the public were present there would be disclosure to them of “exempt” information as defined in the paragraphs of schedule 12A to the Local Government Act 1972 referred to in the relevant report.
147. COMMERCIAL PROPERTY PURCHASES (PART 2 REPORT)
The Assistant Director Financial Services and Revenues presented a report to consider the potential purchase of a commercial property.
It was previously resolved that should the property return the market the Council would declare an interest in purchasing the property. It is understood the Council is not the lowest bidder but is a preferred bidder considering its track record on completion.
Councillor Chowney proposed approval of the recommendations of the Assistant Director’s report. This was seconded by Councillor Fitzgerald.
RESOLVED (Unanimously) that:
- Delegated authority is given to the Chief Finance Officer in consultation with the Leader of the Council to purchase.
The reason for this decision was:
The site presents significant employment opportunities and likewise a significant Business Rate income. Whilst there may be opportunities to redevelop the site in future years the need to retain the site for employment space is a priority, as is the need to retain Business Rate income. Some of the building is only partially occupied giving the opportunity to relook at usage and the potential for the Council to be directly involved in driving greater economic regeneration.
Report author: Peter Grace
Publication date: 10/04/2019
Date of decision: 04/02/2019
Decided at meeting: 04/02/2019 - Cabinet
- Restricted enclosure View reasons restricted
-
My council
Contact
Got a question about democratic services?
Content
The content on this page is the responsibility of our Democratic Services team.