Purpose

Freehold sale of the estate road (Dennis Way) to
Aviva.

Content

Decision:
Approve the freehold disposal of Dennis Way, Slyfield Industrial
Estate, Guildford GU1 1AF based on a sale price of
£100,000.
Reason(s):
To
generate a capital receipt that will contribute towards the target
to secure £50 million (net) of capital receipts by end of
March 2027 from the sale of General Fund property assets, as set
out in the Council’s Financial Recovery Plan, with the aim of
reducing Council debt and achieving a sustainable financial
position.
Other options considered and rejected by the
Executive:
To
retain the property within the Council’s ownership and
continue to take responsibility for the maintenance and repair of
Dennis Way. This option would fail to generate a capital receipt
required to support the Financial Recovery Plan and the
Council’s financial position may be at risk of failure to
recover. This option may also result in the Council incurring
future revenue or capital expenditure to manage the property in the
future, including responsibility for maintenance and repair and
42.98% of the cost.
Details of any conflict of interest declared by the Leader or
lead councillors and any dispensation granted:
None.