Purpose

To review

Content

Decision:

1.      
To approve the disposal of 71 – 72 North
Street, Guildford, on the terms set out in the Summary Property
Report at Appendix 3a and the entering into of all relevant legal
documentation required to complete the legal
transaction.

2.      
To approve the disposal of Eastgate Court, 195
– 205 High Street, Guildford, on the terms set out in the
Summary Property Report at Appendix 1a and the entering into of all
relevant legal documentation required to complete the legal
transaction.

3.      
To delegate authority to the Joint Assistant
Director for Assets and Property in consultation with the Lead
Councillor for Finance and Property and the Joint Strategic
Director for Finance and Resources (S151) to negotiate any
amendments to the terms for disposal of Eastgate Court, 195 –
205 High Street and 71 – 72 North Street as are necessary to
complete the transaction.

4.      
To approve the disposal of Wyke School Reception
Building and the appointment of external agents to commence
marketing.

5.      
To delegate authority to the Joint Assistant
Director for Assets and Property in consultation with the Lead
Councillor for Finance and Property and the Joint Strategic
Director for Finance and Resources (S151) to negotiate terms for a
disposal of Wyke School Reception Building at best consideration on
the open market and/or negotiate with special purchasers and to
enter into all relevant legal documentation required to complete
the transactions.
Reason(s):
To enable the Council to generate capital
receipts through the sale of approved property assets to contribute
to the £50m (net) target, as set out in the Financial
Recovery Plan to reduce Council debt to achieve a sustainable
financial position.
Other options considered and rejected by the
Executive:
None.
Details of any conflict of interest declared by
the Leader or lead councillors and any dispensation
granted:
None.