Decisions for issue Asset Disposals for Re-investment in the Urban Portfolio

RESOLVED:

(i)            That the committee authorised the disposal of the freehold of 23 Meeting House Lane and that delegated powers be given to the Executive Director of Economy, Environment and Culture, Assistant Director Property & Design and Executive Lead, Strategy, Governance and Law to agree terms.

(ii)          That the committee authorised the retention of the net capital receipt to add to an investment fund which includes the net capital receipts of previously completed property disposals, as approved by this committee.

(iii)         That the committee noted that the investment fund would be used to acquire a commercial investment property or properties, in accordance with the council’s AMP, details of which will be presented to this committee with a recommendation when an acquisition opportunity has been identified.