Decision

RESOLVED that Cabinet –

(a)   after assessing the various options set against the current associated on-going costs and in the context of obtaining the best consideration reasonably possible, determines that the vacant Weeley Office site is no longer required for planning purposes to deliver Council Housing and approves its freehold disposal;

(b)     subject to resolution (a) such disposal to take a phased approach as set out:

(i)    sell the site via auction with a reserve price reflecting current market conditions;

(ii)   If during the period the property is being advertised for auction, an offer is received which meets the Council’s requirements as set within resolution (c) below, the Leader of the Council and the Portfolio Holder for Assets and Community Safety can determine whether or not to proceed with the auction;

(iii)  subject to (i) above, in the event that the reserve price is not met and/or best consideration cannot be reasonably demonstrated, agrees to market the site via an open market tender; and

(iv)  subject to (i), (ii) and (iii) above, if best consideration obtainable cannot be reasonably be demonstrated via the above two options, then a further report be presented to Cabinet that explores / revisits potential alternative options.

(c)  subject to (a) agrees that the necessary decisions required through the phased approach be taken by the Leader of the Council and Portfolio Holder for Assets and Community Safety, following receipt of professional valuation advice, and in consultation with the Section 151 Officer and the Monitoring Officer.

(d)   delegates authority to the Portfolio Holder for Assets and Community Safety, in consultation with the Leader of the Council, the Section 151 Officer and the Monitoring Officer to withdraw the property from auction and agree an alternative disposal and enable necessary consents to be obtained and legal agreements completed in the circumstances that an alternative proposal is received the meets the following criteria:

(i)    The financial benefit to the Council is more than could be reasonably anticipated at auction;

(ii)   The financial benefit to the Council demonstrates best value for the site; and

(iii)  The proposer agrees and signs a legally binding agreement prior to the date of the auction.