Purpose

To dispose of the Councils freehold interest in 15 Earls Street, Thetford.

Decision

Agree and authorise Option 1 to dispose of 15 Earls Street, Thetford by auction.

Reasons for the decision

The proposal will release the council from all liabilities associated with the property and generate a substantial capital receipt.

Alternative options considered

Option 1:

Agree and authorise to market and dispose of the property by auction or private treaty as outlined in appendix 2 & 4 valuation advice. Capital receipt to be reinvested.

Option 2:

Not approve to dispose of the property and to undertake all works to bring the property back to la lettable condition.