Purpose

The report seeks authority to agree options around the
future use of the building.

Content

Exempt Paragraph 3
Information relating to
financial and business affairs of any particular person (including
the Authority holding that information)

 
RESOLVED

That the Cabinet:

a)               
notes and consider the options for the future of Goffs Park
House. 

b)               
approves option 6 as detailed in sections 6.21-6.24 of report
FIN/729, including the principle that any capital receipt arising
should be utilised for improvements to the park, subject to any
final decision on the outcomes identified in option 6 being brought
back to Cabinet for final approval.

c)               
approves a capital budget of £250,000 for the improvements of
Goffs Park funded from capital receipts.

Reasons for the
Recommendations

 

a)               
Under the Council’s Capital Strategy asset holdings must be
reviewed and challenged to determine performance and whether they
still meet the needs of the Council in terms of delivering the
corporate priorities and supporting service delivery. Where an
asset no longer fulfils its intended purpose or no longer delivers
value for money an ‘exit strategy’ may be triggered
with consideration of disposal or alternative uses.

b)               
The circumstances that require the consideration of the future of
Goffs Park House are:

·             
Long term void and unable to attract good quality replacement
tenants at acceptable rent levels.

·             
The age and specification of the building affects the ability to
let the property.

·             
The management or maintenance costs affect the viability.

·             
The reaching of a specific period for being void based on the
property’s normal void turnaround period of a comparable
property.

·             
The asset no longer supports any of the corporate priorities.