Purpose

Following Cabinet approval on 15 November 2024
which authorised approval to purchase 10 x 1-bedroom properties
utilising £1.2 million from reserves.

Content

To purchase 10 Hussars Court,
March in accordance with Cabinet approvals at a purchase price of
£100,000.

Reasons for the decision

That this property be purchased
at the price of £100,000 for the following
reasons:
 

·        
Looking at the documentation supplied as part of the
sale including:
o  
Valuation Report.
o  
Solicitor’s Report,
o  
Form of contract and transfer
 

·        
Being satisfied that the purchase falls within the
remit of what cabinet approved including:
o  
It is within the financial thresholds of the
confidential appendix.
o  
The location of the property
o  
The view of Investment Board.

Alternative options considered

Not applicable.