Purpose

To consider whether to proceed with the
acquisition of Maritime House.

Decision

To not proceed with the acquisition.

Reasons for the decision

Upon consideration of the evidence officers
have collated regarding;
 
-the condition of the building and repair
costs
-the response of the owner to a suggested
price reduction
-the conversations with 2SH, and Housing
Associations   
-Section 123 valuation
 
And in consultation with the Chief Finance
Officer (S151 officer) and the Head of Law and Governance and
Monitoring Officer the recommendation is not to proceed with this
acquisition.

Alternative options considered

Proceed with acquisition – this would
not demonstrate best value for money.