Purpose

Decision on Housing Gateway Ltd Asset

Decision

DECISION: The Cabinet agreed to:

i.               Approve the disposal of the Greenway House by Housing Gateway Limited (HGL) to the preferred bidder.

ii.              Approve the Council entering into a lease back from the purchaser for use of Greenway House for a period of 10 years at rates in line with the current Lease Plus scheme in order to fulfil its statutory homelessness responsibilities. The Council will assume repair, management, maintenance and insurance obligations whilst the buyer would retain responsibility over externals, the roof, lift and insurance of the building.

iii.             Delegate authority to the Executive Director of Housing and Regeneration, in consultation with the Chief Finance Officer, to approve the final terms of disposal and lease in the event that during negotiations, terms require minor amendments to the sale price or lease terms.

iv.            Note that any material variation to the offers currently under consideration may require further approval through HGL's governance arrangements.