Purpose

This report recommends the  disposal of three properties; one commercial, one
a surplus operational property and one a vacant residential
(non-HRA) property.

Content

1)            
Cabinet agrees in principle to the disposal of
8-11 Pavilion Buildings by way of a leasehold interest of up to 150
years and delegates authority to the Corporate Director City
Services in consultation with the Assistant Director Legal and
Democratic Services and the Cabinet Member for Finance & City
Regeneration to negotiate the terms for the disposal and take all
necessary steps to complete the transaction.

 

2)            
Cabinet agrees to the disposal of the freehold of
Montague Place and to granting an option to buy the freehold of
23-24 Montague Place on the terms set out in this
report.

 

3)            
Cabinet agrees to the disposal of Flat 4 Arcade Buildings
by way of a long leasehold of 125 years on the terms as set out in
this report.
 

4)            
Cabinet delegates authority to the Corporate Director City
Services in consultation with the Assistant Director Legal and
Democratic Services and the relevant Cabinet Member, to finalise
the terms and take any necessary steps to facilitate
recommendations 2.2 and 2.3.