Decision Maker: Executive

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: November 27, 2024

Purpose:

Content: That 1.  The freehold purchase of the subject property for the value as set out in Part 2 of this report, be agreed subject to appropriate due diligence. 2.  It be agreed that this capital scheme be added to the Council’s capital programme, financed through external borrowing. 3.  It be agreed that a suitable budget be set aside for the ongoing revenue costs to be incurred as a result of holding the subject property, once the purchase has completed. An estimate of these costs is set out in Part 2 of this report. 4.  Authority be delegated to the Director of Housing, Planning, Property and Regeneration in consultation with the Director of Finance and Director of Children’s Services to agree sales terms and complete the purchase of the subject property within the parameters set out within this report. 5.  Authority be delegated to the Assistant Director of Legal Services to sign, execute and enter into all necessary legal agreements together with any associated ancillary documentation required in order to complete the purchase. 6.  It be noted that Officers, where possible, will seek external funding opportunities, including from the Department for Education, to support with the purchase and operational costs associated with the children’s home. 7.  Authority be delegated to the Director of Housing, Planning, Property and Regeneration to procure and award contracts for any necessary repair works and submit planning and any other relevant applications in association with this purchase. 8.  It be noted that the operational model of the children’s home will be subject to future reports.