Issue - decisions
Proposals for the disposal of the freehold of Stonebow House and further options for changes to the Commercial Portfolio
13/10/2016 - Proposals for the disposal of the freehold of Stonebow House and further options for changes to the Commercial Portfolio
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.