Purpose

This report recommends the
disposal of the freehold interest of 21 Broom Road, Shirley, CR0
8NG.  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.  SHW undertook an open market process.  A transparent and clear process was provided for
parties to undertake their due diligence to ensure considered
offers.  SHW received six
offers.
 
Details of the offers received
and the marketing report 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

RESOLVED:
 

2.2     To
approve the disposal of the
freehold interest of 21 Broom Road, Shirley, CR0 8NG at the value stated in
the confidential Part B report.
 
 

Reasons for the decision

As contained in the Part A
report.

Alternative options considered

As provided in the Part A
report