Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: January 21, 2026

Purpose: To seek approval for the disposal of an area of hard standing in order to raise a capital receipt.

Content: Exempt Paragraph 3 Information relating to financial and business affairs of any particular person (including the Authority holding that information)   RESOLVED That the Cabinet: a)    Approves the sale of the freehold interest in a Council owned asset to the Option 1 bidder as detailed in sections 6.1 of report FIN/720. b)    Delegates authority to the Head of Corporate Finance in consultation with the Leader of the Council to approve the sale of the property in order to achieve the preferred outcome as detailed in sections 6.1 and  8.1 of report FIN/720 to generate a capital receipt. c)     Delegates the negotiation, approval and completion of all relevant legal documentation, to the Commercial Asset Manager, in consultation with the Head of Governance, People and Performance and the Head of Corporate Finance. (Generic Delegations 2 and 3 will be used to enact this recommendation) Reasons for the Recommendations   Under the Asset Disposal policy contained in the Capital Strategy, approved at Council on 26 February 2025, the Council will review asset holdings and monitor performance to determine whether there has been a change in the market, under performance, obsolescence or whether the assets still meets the needs of the Council in terms of delivering the corporate priorities. If not, then an exit strategy may be triggered in the event that the asset no longer fulfils its intended purpose or no longer delivers value for money.  The Council has identified an asset where the current use and limited development options make it appropriate to consider triggering the exit strategy for the asset. The disposal of the freehold of the asset will generate a capital receipt for the Council.