Purpose

Cabinet to consider the purchase offers for the sale of the Development Land at Reform Road and agree the offer to proceed with.

Decision

AGREED: That cabinet noted the report and:

i)                 Considered all offers received for the sale of the Reform Road Development Land and agrees to proceed with the sale to the Partnership of Pembury Real Estate and Hines as this offer represents the best consideration that can reasonably be obtained.

ii)               Delegated authority to the Executive Director of Place Services in consultation with the Cabinet Member for Planning, Governance and Asset Management to enter contract and complete the sale of the freehold interest of the Development Land at Reform Road to the Partnership of Pembury Real Estate and Hines.