Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: February 17, 2025

Purpose:

Content: RESOLVED:   1.    That Cabinet approves the sale of Ranger House to Surrey Property Group (previously known as Halsey Garton Property Investment Ltd (HGPI) [Exempt Minute E-05-25], in accordance with the red book valuation dated 29 January 2025 and delegated authority to be given to the s.151 Officer to agree that amount. 2.    That Cabinet approves the provision of a loan [Exempt Minute E-05-25] by the Council to Surrey Property Group (SPG), secured against the Ranger House property, to partly fund SPG’s purchase and redevelopment of the property. Delegated authority to be given to the s.151 Officer to agree the loan details.   3.    That Cabinet gives the SPG Board delegated authority to proceed with required refurbishment works [Exempt Minute E-05-25], to provide suitable accommodation to lease out to third parties for the purposes of maximising income for revenue generation purposes  and maximising capital value of the asset once it is fully let. 4.    That Cabinet notes that all of the above are subject to separate agreement by SPG Board in accordance with its own governance. Reasons for Decisions:   Exempt Minute E-05-25.   (The decisions on this item can be called-in by the Resources and Performance Select Committee)