Purpose

Following formal marketing of the
building, to present to Cabinet the outcome of the marketing
process and seek final approval to dispose of the building to the
recommended purchaser.

Decision

Cabinet RESOLVED
to:

1. Note the outcome of the
marketing exercise and agree to dispose of the building to Bridge
Street (March) Limited.

2. Note the financial implications
as set out within Exempt Annex 4 and agree that the net amount from
the sale proceeds is recycled back into the Towns Fund
Budget.

3. Recommend to Full Council to
approve the budget virement / reallocation of funds, funded through
the capital receipt as set out in Exempt Annex 4.

4. Delegate authority to the
Executive Director for Place and Economy, in consultation with the
Executive Director for Corporate Services, the Director of Law and
Governance, and the Cabinet Member for Finance and Corporate
Governance to take all necessary steps to facilitate the final
decision, including entering into any necessary agreements and
reallocating any unallocated funds as part of the Towns Fund
Programme.