Purpose

Key Decision
No 2823RES approves the Disposal at a figure
set out in the October 9th key decision paper.
A further decision is now
required is to approve the disposal at a lower
figure.
 
The report
recommends the disposal of this investment asset at
The Colonnades, 619 Purley Way, Croydon CR0
4RQ. The report is
required as the value of the disposal is over
£1,000,000.  This is asset has
been fully marketed by Savills and is now under offer to a
new SPV wholly owned
by Melford IV (GP) Ltd.
 

Content

RESOLVED:
 

1.1              
To approve the disposal of the freehold of The
Colonnades at the revised value stated in the confidential Part B
report.

 

1.2              
To note, an annual update on the Annual Asset
Disposal Plan (AADP) to be brought to Cabinet detailing all
disposals and lettings and the achieved price.