Decision

1. that the Director of Finance be authorised to dispose of the freehold interest of the land and buildings listed in Appendix 1 to the submitted report on suitably agreed terms, adopting the most appropriate methods of disposal, to be determined by the Strategic Head of Asset Management, following an adequate period of marketing on each individual asset; and
2. that 20% of the sale proceeds from assets that achieve over £100k, and 100% of proceeds from assets that achieve a value of less than £100k, is allocated to the Council’s Capital Repair Fund (to improve the condition of retained assets).

Reasons for the decision

The disposal of surplus assets would reduce holding and maintenance costs, generate capital receipts, support investment in the retained estate and enable properties to be brought back into beneficial use.

Alternative options considered

Retaining the assets was rejected as they were surplus to operational requirements and continuing ownership would have resulted in ongoing management costs, maintenance liabilities and lost opportunities to generate capital receipts.