Purpose

That Cabinet formally declares the asset surplus to operational requirements.

Decision

RESOLVED:

1. That Cabinet formally declares the asset surplus to operational requirements.?

1. That Cabinet Approves the freehold sale of Park Lodge, Dorking to the party, at the price and subject to the conditions, noted in the part 2 report.

1. That Cabinet delegates authority to Deputy Chief Executive and Executive Director of Resources (s151 Officer) in consultation with the Director of Land and Property to finalise the transaction and enter into all associated legal agreements to include matters outlined in the part 2 report.?

REASONS FOR DECISIONS:

• Cabinet has previously endorsed rationalisation of the surplus estate and this report follows an unsolicited offer for Park Lodge, Dorking.??

• The asset is vacant and is subject to holding costs and will require significant capital expenditure to make it fit for occupation. The continual assessment of the Council’s investment assets performance has identified the disposal of this asset as it is surplus to operational requirements.

• Full status and proof of funding enquiries have been as outlined in the part 2 report and the transaction is recommended as supporting best value obligations.??

• To enable the disposal to proceed, Cabinet is requested to formally declare the asset surplus to operational requirements under the Council’s Constitution.?

(The decisions on this item can be called-in by the Resources and Performance Select Committee)