Establishing an Investment Budget for a Strategic Commercial Property Acquisition
Purpose of Report: The report sets out an
opportunity which has arisen to make a strategic purchase of a
commercial property in York city centre. This follows previous
strategic purchases of property in York, most notably in
Swinegate in 2017 which was approved by
Executive and Full Council. A full business case will be provided
in the confidential papers of such.
The report asks Members to recommend to Full Council the establishment of a capital budget to fund the acquisition of the freehold interest of a property in the city centre which will be held within the Council’s commercial property portfolio.
Decision type: Key
Reason Key: Cabinet Decision - a 'Key Issue' - decision leading to savings or expenditure of £500,000 or above;
Decision status: For Determination
Wards affected: (All Wards);
Notice of proposed decision first published: 30/10/2019
Anticipated restriction: Part exempt - View reasons
Explanation of anticipated restriction:
3. Information relating to the financial or business affairs of any particular person (including the authority holding that information).
Decision due: 28/11/19 by Executive
Lead member: Executive Leader (incorporating Policy, Strategy and Partnerships), Executive Member for Economy and Strategic Planning, Executive Member for Finance and Performance
Lead director: Corporate Director of Economy and Place
Department: Directorate of Economy and Place
Contact: Tracey Carter, Assistant Director-Regeneration and Asset Management Tel No. 01904 552167; Email: email@example.com, Nick Collins, Commercial Property Manager Email: firstname.lastname@example.org.
All appropriate Officers and Members have been consulted.
- 28/11/2019 - Executive Establishing an Investment Budget for a Strategic Commercial Property Acquisition 28/11/2019
- Establishing an investment budget for a strategic commercial property acquisition