Decision Maker:

Outcome: Recommendations approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: October 29, 2024

Purpose:

Content: The Cabinet Member:   1.    Formally declared the asset surplus to operational requirements (in consultation with The Leader and Deputy Leader).   2.    Approved the sale of 2 Copse Edge, New Inn Lane, Guildford, GU4 7HS to the party, at the price and subject to the conditions, noted in the Part 2 report. The sale is conditional upon the simultaneous surrender of the headlease held over the asset by HGR which has been agreed by the HGR Board.   3.    Approved, in conjunction with the Leader, the acquisition of the leasehold interest held by HGR over the property at the premium noted in the Part 2 report. The premium for the surrender of HGR’s interest is payable by the Council from the gross receipt with both parties bearing their own costs and appointments of their own professional team.   4.    Delegates authority to the Executive Director, Environment, Property and Growth in consultation with the Director of Land and Property to finalise the transaction and enter into all associated legal agreements.