Purpose

To consider proposals for the property as a part of the Council's Asset Disposals Programme.

Decision

Decision:

1. Delegate authority to the Joint Director of Assets and Property, following prior consultation with the Portfolio Holder for Finance and the Joint Strategic Director of Finance and Resources, to market and agree terms for a disposal of the freehold interest in the Puttenham Camping & Storage Barn, The Street, Puttenham at best consideration, once all necessary approvals and consents have been obtained; and
2. Recommend the proposed transaction to the West Surrey Shadow Authority for approval in accordance with the requirements of the Section 24 Direction and the General Consent.

Reason(s):

To enable the Council to generate capital receipts through the sale of approved property and land assets to contribute to the target, as set out in the Financial Recovery Plan, to reduce Council debt and to achieve a sustainable financial position.

Other options considered and rejected by the Executive:

Option 1 - Do nothing and adopt a business as usual approach to this asset continuing to receive limited rental income from the current tenant of the Camping Barn, currently in occupation at an annual rental of £1,958 plus VAT. This option will not generate a capital receipt to contribute towards the targeted capital receipts and is also likely to result in the Council incurring future revenue and/or capital expenditure to manage the asset in the future due to its current condition and Grade II listed status.

Details of any conflict of interest declared by the Leader or lead councillors and any dispensation granted:

None.