Purpose

The Cabinet considered a report
recommending the disposal of 5 surplus property assets: the former
toilet block at Minnis Bay; Margate Media Centre (but not to
complete a sale before June 2026); land at Vale Square Gardens,
Ramsgate; Retort House, Broadstairs; land at Minnis Bay Restaurant,
Birchington; and a marketing exercise for Marina Car Park 3,
Ramsgate (the results of which will be brought back to Cabinet for
consideration).
 
The disposal of surplus assets
is crucial in generating capital receipts, which is essential for
funding the council’s approved Capital Programme as set out
in the Medium Term Financial Plan.

Decision

Cabinet approved the
following:
 
1. 
The open market disposal of the former toilet block,
Minnis Bay;
 
2. 
The disposal of Margate Media Centre,
Margate;
 
3. 
The asset disposal of Vale Square Gardens, Ramsgate,
by way of private treaty to the current licensee;
 
4. 
The open market disposal of Retort House,
Broadstairs;
 
5. 
The disposal of land at Minnis Bay Restaurant, by
way of private treaty to the lessee;
 
6. 
The marketing exercise for Marina Car Park 3,
Ramsgate, and then report back to Cabinet.

Reasons for the decision

The assets have been identified
surplus to council requirements. There is cost and risk to the
council associated with retaining these properties on a long term
basis. Their disposals will generate crucial capital receipts
needed to fund the agreed council’s capital expenditure
programme.

Alternative options considered

The options to retain the
assets and repurpose them were all rejected because they would be
financially imprudent, fail to generate the necessary capital funds
for the council, and would not address the financial or safety
risks associated with retaining the properties on a long term
basis.