Purpose

The Cabinet considered a report recommending the leasehold disposal of three surplus property assets: Nethercourt Touring Park, Ramsgate; Land adjacent to Millies Bar & Restaurant, Westgate and the Palm Bay Avenue shelter, Palm Bay, Margate. The disposal of surplus assets is crucial in generating capital receipts and income, which is essential for funding the council’s approved Capital Programme as set out in the Medium Term Financial Plan.

Decision

Cabinet agreed the following recommendations, to:

1. Approve the leasehold disposal of Nethercourt Touring Park, Ramsgate;
2. Approve the asset disposal of Land adjacent to Millies Bar & Restaurant, Westgate;
3. Approve the leasehold disposal of the Palm Bay Avenue Shelter, Margate.

Reasons for the decision

The assets have been identified surplus to council requirements. There is cost and risk to the council associated with retaining these properties on a long term basis. Their leasehold disposals will generate much-needed rental income that can be utilised elsewhere in the council’s retained portfolio or statutory services.

Alternative options considered

The options to retain the assets and repurpose them were all rejected because they would be financially imprudent, fail to generate the necessary funds for the council, and would not address the financial or safety risks associated with retaining the properties on a long term basis.