Purpose

To utilise funding authorised by Cabinet on 15 November 2024 to purchase 10 x 1-bedroom properties utilising Council reserves to complete the purchase of a 1-bedroom flat at 35 Hussars Court, March, PE15 9TJ.

Decision

The purchase of this property in accordance with Cabinet approval at a purchase price of £96,000.

Reasons for the decision

That this property is brought for the purchase price of £96,000 for the following reasons:

·       looking at the documentation supplied as part of the sale including:

o   Valuation Report.

o   Solicitor’s Report,

o   Form of contract and transfer

·       being satisfied that the purchase falls within the remit of what Cabinet approved including:

o   It is within the financial thresholds of the confidential appendix.

o   The location of the property

o   The view of Investment Board.

Alternative options considered

Not Applicable.