Decision details

Tom Southall, the Corporate Asset Manager, presented the report which proposed that following a period of marketing the Corporate Asset Development Board select the appropriate method of disposal of the properties, with the preference for PCC to participate in the future income streams.

Councillor Donna Jones reported that she and Councillor Luke Stubbs, as Cabinet Member for Planning, Regeneration & Economic Development, had been working on this project for over a year and dialogue was taking place with all the tenants.  This was a key site in the city centre close to student accommodation developments and there was already substantial interest in the site.  The Leader was keen to develop this income stream and would be meeting with the developers.

DECISIONS:

(1)  That, Chaucer House, Great Western House, and the former Navigators Resource Centre be declared surplus to Council requirements and marketed for redevelopment.

(2)  That following the marketing of the site the Corporate Asset Development Board in consultation with the Director of Finance, be empowered to select an offer including the method of disposal for redevelopment, which could include but not be limited to;

·         Freehold or leasehold sale

·         Entering a Joint venture arrangement with a third party

(3)  The Director of Property, the Director of Finance & Section 151 Officer, and the City Solicitor, be given authority to secure vacant possession of the site (as identified in Appendix 1) and to complete all necessary documentation required to complete the transaction as per (2) above.