Decision details

Purpose of Report: Further to the approval given by the Executive to sell Ashbank as part of the Administration Accommodation Project Business case back in November 2005, the purpose of the report is to advise on the offers received and make a recommendation on the preferred bidder.

Members will be asked to approve the proposed sale to the highest bidder.

Decision due date for Executive changed from 27/09/2018 to 30/08/2018.  Reason: So that the purchase can go ahead without delay, as there is a risk that otherwise the seller will withdraw from the sale.

Resolved:  (i)      That the sale of Ashbank to Anchor Housing Trust (Anchor), as the highest net financial bidder, be approved.

                   (ii)      That Bidder 1 be retained as a reserve bidder  and that, should Anchor fail to complete the purchase of Ashbank in a timely manner, authority be delegated to the Director of Economy & Place to agree its disposal to the reserve bidder in their place.

Reason:     To achieve the best financial consideration for the disposal of this surplus asset and enable development on a currently vacant property.