Decisions for issue Disposal of 54 London Road
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Disposal of 54 London Road
26/01/2018 - Disposal of 54 London Road
1) That the committee authorises the disposal of the freehold of 54 London Road and that delegated powers be given to the Executive Director of Economy, Environment and Culture, Assistant Director Property & Design and Executive Lead for Strategy, Governance and Law to agree terms.
2) That the committee authorises the retention of the net capital receipt to support the created investment fund, that includes the net capital receipts from 3 other completed property disposals, previously approved by this committee (11 Little East Street, 18 Market Street and 28 York Place).
3) That the committee notes that the investment fund created will be used to acquire commercial investment property or properties, in accordance with the council’s Asset Management Plan, details of which will be presented to this committee with a recommendation when an acquisition opportunity has been identified.