Decisions for issue Disposal of 43 Belmont Street and adjacent land - Disposal Update

RESOLVED: That the Committee –

(i)            Authorised the freehold disposal of Belmont Street Annexe and 26 and 27 St Peter’s Street to the adjacent owner and the surrender of rights to use the adjacent garage, and that delegated powers be given to the Executive Director of Economy, Environment and Culture and Executive Lead Strategy, Governance and Law to agree terms and take any necessary steps to facilitate

this recommendation;

(ii)          Authorised the retention of the net capital receipt to be used with capital receipts from previous disposals approved by Policy, Resources & Growth Committee, to add to the “investment capital pot” that is accumulating to

acquire commercial investment property or properties, in support of the asset investment rebalancing strategy in accordance with the council’s Asset Management Plan and budget strategy.