Purpose

A unilateral approach was made to purchase the freehold interest in Entry Hill Depot.

The decision to sell has passed through a Single Member Decision and then a full Cabinet Scrutiny Committee.

The decision has also been approved via a Decision Record Form 2024001.

Decision

To dispose of the Freehold interest subject to RICS Red Book Valuation and inclusion of overage provision.

Alternative options considered

Option 1 - Residential Development
Option 2 - Continued use as a Corporate asset
Option 3 - Disposal