Content

Cabinet:
 

(i)           
accepted on a
“Subject to Contract” basis the offer for the purchase
of its half share of the freehold interest in the former County
Hall site to the bidder offering the following sums depending on
the eventual affordable housing scenario, with full payment being
made on completion of sale.
 

Affordable Housing Percentage

Amount

Offered for Entire Site

TCBC Share

(50%)

20%

£4,577,000

£2,288,500

30%

£3,410,000

£1,705,000

 

(ii)         
authorised the TCBC Legal and Asset
Management Services to negotiate detailed contract terms for the
disposal of the former County Hall site and manage the conveyancing
process on behalf of both landowners.
 

(iii)        
granted specific delegated authority to the Executive Member for
Resources & Corporate Governance to determine any issues
pertaining to the disposal of TCBC’s half share of the former
County Hall site that will require further executive
approval.