Purpose

Following Cabinet approval on
15 November 2024 which authorised approval to purchase 10 x
1 bedroom properties utilising
£1.2 million from reserves.
 
This officer decision notice is
to record the decision to complete the purchase of a 1 bedroom flat at 9 Church Mews, Wisbech.

Content

The purchase of this property
in accordance with Cabinet approvals at a purchase price of
£80,000.

Reasons for the decision

Having looked at the
documentation supplied as part of the sale including:

·      
Valuation report

·      
Solicitor’s report

·      
Form of contract and transfer.
 
Being satisfied that the
purchase falls within the remit of what Cabinet approved
including:

·      
It is within the financial thresholds of the
confidential appendix

·      
The location of the property

·      
The view of the Investment Board.

Alternative options considered

Not Applicable.