Purpose

To confirm the freehold
interest in the asset can be sold to generate capital receipts. The
freehold interest in the asset referred to in Appendix 2 are to be
declared surplus and capable of review, to determine the best
overall return for the council.
 

Content

I
confirm the freehold interest in the asset (Thickwood House) can be sold to generate capital
receipts. The freehold interest is to be declared surplus and
capable of review, to determine the best overall return for the
council.
 
This
decision was published on 25 April 2024 and will come into effect
on 3 May 2024.
 

Reasons for the decision

To allow options to be reviewed
for the site including the opportunity to generate a capital
receipt, if in the best interest of the Council.
 

Alternative options considered

Declaring additional assets
surplus to the requirements of the Council will provide additional
funds for the Medium-Term Financial Plan and Council’s
Business Plan. Prior to disposal the Council will undertake a
thorough review of the options for assets ensuring the outcome is
in the best interest of the Council.