Purpose

This report recommends the
disposal of the freehold interest of Norbury
Park Lawn Tennis Club, 55 Ederline Avenue, London, SW16
4RZ.The objectives for the
disposal were to secure maximum receipts, achieve offers on an
unconditional basis with the lowest possible transactional risk and
to target capital receipts with the preferred bidder as quickly as
possible for the Council to reduce its outstanding
debt.  The clear preferred bidder was
identified as the existing tenant, and they were treated as the
special purchaser. 
 
Details of the offer received
are included within the confidential Part B report, as this is
exempt information as defined in paragraph 3 of Schedule 12A to the
Local Government Act 1972 (as amended), as it
relates to the financial or business affairs of any particular
person (including the authority holding that information)
and the public interest in withholding disclosure
outweighs the public interest in disclosure.
 

Content

For the reasons set out in the
report the Corporate Director of Resources and Section 151 Officer
AGREED:
 
To approve the disposal of the freehold interest of Norbury Park Lawn Tennis Club, 55 Ederline Avenue, London, SW16 4RZ at the value stated in the confidential
Part B report.