Content

Recommendations

1.1            
Note the proposed restructuring of the Council’s commercial
property portfolio, in line with the Strategic Asset Management
Plan, to reduce the Council’s financial risk and generate
capital receipts, as well as delivering much needed affordable
temporary accommodation and enabling investment in the western end
of Old St
 

1.2            
Approve the disposal of four buildings on Old Street (29-33, 41-47,
49-59 and 69) on an unconditional basis, mitigating a persistent
income pressure and generating a significant capital receipt.
 

1.3            
Approve the disposal of land near Stansted Mountfitchet on an
unconditional basis and an overage arrangement, generating a
significant capital receipt from an asset that is currently
delivering no value
 

1.4            
Delegate authority on the final terms and timing of these disposals
to the Corporate Director of Community Wealth Building following
consultation with the Acting s151 Officer and the Executive Member
for Homes & Neighbourhoods.
 

1.5            
Note the Council will seek to secure planning permission to convert
the vacant floors at 7 Newington Barrow Way to much
needed and affordable temporary accommodation units, providing cost
avoidance from temporary accommodation financial pressures and
securing a significant part of the committed
FutureWork saving
 

1.6       Note the
positive impact on the Medium Term Financial Strategy
arising from this paper’s recommendations
 
:
AGREED RECOMMENDATIONS
 
– as detailed in the report
– as detailed in the report
– none