Purpose

This report will be about the
disposal of 37-39 Imperial Way. Delegated authority decision is
required from the Corporate Director of Resources and s151 Officer
to agree the terms and final price for the disposal included within
Tranche 1 of the Assets Disposal Plan. 
 

This report
recommends the disposal of the freehold of 37-39 Imperial Way.The objectives for
the disposal were to secure maximum receipts, achieve bids that
were on an unconditional basis with the lowest possible
transactional risk and to target capital receipts with
the preferred bidder by the
end of the financial year. 
Savills undertook a full open market process.  A transparent and clear process
was provided for parties to undertake their due diligence to ensure
considered bids.  There were 6 potential purchasers at best and
final bids.  

Content

RESOLVED to:

2.1 To
approve the disposal of the
freehold of 37-39 Imperial Way at
the value stated in the confidential Part B report.