Decision details

Proposals for the disposal of the freehold of Stonebow House and further options for changes to the Commercial Portfolio

Decision Maker: Executive

Decision status: Decision Made

Is Key decision?: No

Is subject to call in?: Yes

Decision:

Recommended: That Council create a capital budget of £1.145m to secure these new assets and for this to be funded from the capital receipts from Stonebow House and Redeness Street (£1.006m) with the remaining £138,500 being funded from borrowing, with the associated interest and repayment of the debt being met from the additional revenue income generated by the new acquisitions.

 

Reason:     To reinvest capital from the commercial portfolio in order to increase the revenue income from that portfolio, and to unlock the development potential of the sites in the future.

 

Publication date: 13/10/2016

Date of decision: 13/10/2016

Decided at meeting: 13/10/2016 - Executive

Effective from: 18/10/2016

 

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