Executive Decisions by Individuals Minutes

Date:
Wednesday, 1st July, 2009
Time:
9.00am
Place:
Director of Resources: Town Hall, Reigate
 

Attendance Details

Present:
Director of Resources
Also Present:
N/A
Substitutes:
N/A
Min NoDescriptionResolution
Part II(Confidential)
1 ACQUISITION OF FREEHOLD INTEREST IN A PROPERTY IN REDHILL
  • Acquisition of Freehold Interest Report
RESOLVED that the:

(i) Head of Legal and Property Services be authorised, in consultation with the Director of Resources, to acquire the Freehold interest of the property referred to in the report.

(ii) acquisition and associated costs and fees, as set out in paragraph 30 of the report, to be funded from the Strategic Property acquisition budget within the Approved Capital Programme, be noted.
N/A

Minute

Min NoMinute
1REASONS FOR DECISION

The Council recently acquired the Long Head Leasehold interest in this site, which adjoins the Council's Marketfield Way car park and occupies a prime retail pitch opposite the main entrance to The Belfry shopping centre.
The combined site has been identified as a key development site in the Redhill Area Action Plan. The acquisition gives the Council a controlling interest, enabling greater influence over and financial interest in, a future development of the combined sites.

ALTERNATIVE OPTIONS
The following alternative options were considered and rejected:

• Alternative Strategy if not purchased - that the Council enter into negotiations with the parties identified in paragraph 16 of the report.

• Do Nothing