Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: October 24, 2024

Purpose: At present, the Council does not hold a formal Acquisition and Disposal Policy. The adoption of this new policy will set out how the council identifies and disposes of surplus property in order to reinvest capital receipts as part of Thanet District Council’s (“the council’s”) capital strategy and asset management planning process. The policy has two main sections: general principles for disposals and general principles for acquisitions.

Content: Cabinet approved the implementation of the new Acquisition and Disposal policy.

Reasons for the decision: The implementation of the new Acquisition and Disposal Policy is necessary to provide a clear, structured framework for the identification and disposal of surplus property assets.

Alternative options considered: One alternative would be to continue with the current ad hoc arrangements for managing surplus assets, but this is not recommended as it fails to provide the structured approach necessary for achieving best value and strategic outcomes.   Another option would involve outsourcing the disposal process entirely, which could increase costs and reduce control over the asset disposal strategy. This is not the preferred option.   Cabinet could decide not to accept the proposed new policy and instead amend aspects of the policy. This is not the preferred option as the policy has been carefully thought out to align with the Council’s capital corporate objectives.