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RESOLVED:
 
That the Strategic Investment Board:
 

Approves commencement of the
marketing exercise in relation to the potential freehold disposal
of this investment asset to achieve a minimum capital
receipt.

Delegates authority to the Deputy
Chief Executive & Executive Director of Resources (s.151
officer) in consultation with the Leader and the Cabinet Member for
Property, Infrastructure and Waste to approve the sale of the asset
and authorise entering into the required legal documentation to
facilitate the sale following the outcome of the marketing process
and within an agreed tolerance.

 
Reasons for
Decisions:
 
·        
Continual assessment of the County Council’s investment
assets performance has identified potential merit in undertaking a
freehold disposal of this asset.
·        
To ensure the decisions can be executed in a timely manner, the
details provided within the paper allow for a clear vision on the
options available.
 
(The decisions on
this item can be called-in by the Resources and Performance Select
Committee)