Issue - meetings
Investment Sale of 2 High Petergate
Meeting: 10/10/2006 - Executive - for meetings from 03/06/00 to 26/04/11 (Item 87)
87 2 High Petergate, York 
PDF 34 KB
This report seeks approval for the sale of the freehold interest in 2 High Petergate, York.
Additional documents:
- 2&2a High Petergate, item 87
PDF 114 KB
- 1010 2HPGate-CONFANNEX 2 , View reasons restricted (87/3)
Decision:
Members considered a report which sought approval to sell the Council’s freehold interest in property at 2 High Petergate.
RESOLVED: That the freehold sale of the property, by informal tender on the open market, be approved, provided the best offer received is at or above the reserve figure.
REASON: To secure a capital receipt and support the capital programme.
Minutes:
Members considered a report which sought approval to sell the Council’s freehold interest in property at 2 High Petergate.
The property had been put on the market due to its inclusion in the 2006/09 Capital Receipts Programme approved by Council in March and the need to make progress on the sales. However, the closing date for offers had not yet been reached so the Council was not committed to the sale. Ward Member consultation had taken place on 9 August, and no objections received.
Sale of the property (Option 1) was recommended as it would raise a receipt to support the capital programme. Option 2 was to retain the property and the rental income of £19,400 per annum.
RESOLVED: That the freehold sale of the property, by informal tender on the open market, be approved, provided the best offer received is at or above the reserve figure.
REASON: To secure a capital receipt and support the capital programme.