Decision details
Sale and Leaseback - Property in White Hart Road
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
Purpose:
To seek authority to enter into a leasehold
sale and leaseback transaction in relation to the Council's legal
interest in land on White Hart Road
Decision:
DECISION that Cabinet authorised:
(1) Granting a new headlease and leaseback in land on White Hart Road, Portsmouth.
(2) A delegated authority to the Director of Property and the Director of Finance & Section 151 Officer, taking advice from the City Solicitor, and in consultation with the Leader of the City Council, to approve the completion of disposal in (1) above.
(3) The reinvestment of the Capital receipt produced by the transaction into the property investment strategy, in order to spread risk and deliver an improved financial return.
Report author: Tom Southall
Publication date: 23/09/2016
Date of decision: 22/09/2016
Decided at meeting: 22/09/2016 - Cabinet
Accompanying Documents:
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