Proposals for the Freehold of Stonebow House and further options for changes to the Commercial Portfolio
Purpose of Report: The report will set out options to dispose of the freehold interest in 2 poorly performing freehold interests currently held in the Council’s commercial portfolio (Stonebow House and 10-12 Redeness St) and to invest in the purchase of the leasehold interests of 2 properties with a better financial yield.
The disposal of the freehold interests will, subject to planning, enable redevelopment of underused assets. The purchase of the leasehold interests will generate an increased revenue income and secure potential future development opportunities.
This report has been deferred to the October Executive meeting to allow Officers time to examine further options for changes to the Council’s commercial portfolio.
Decision type: Key
Reason Key: Cabinet Decision - a 'Key Issue' - decision leading to savings or expenditure of £500,000 or above;
Decision status: Decision Made
Wards affected: Guildhall Ward;
Notice of proposed decision first published: 18/07/2016
Anticipated restriction: Part exempt - View reasons
Explanation of anticipated restriction:
Information relating to the financial or business affairs of any particular person (including the authority holding the information)
Decision due: 13/10/16 by Executive
Lead member: Executive Member for Finance & Performance
Lead director: Corporate Director of Customer and Corporate Services
Department: Directorate of Customer and Corporate Services
Contact: Andy Kerr Tel No. 01904 554153 Email: email@example.com.
Internal - Finance and Property Services, with
external valuation advice.
Making Representations: Contact the report author.
- 13/10/2016 - Proposals for the disposal of the freehold of Stonebow House and further options for changes to the commercial portfolio
- 13/10/2016 - Executive 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 lease of Stonebow House