Executive Decisions by Individuals Minutes

Date:
Friday, 1st July, 2011
Time:
9.00am
Place:
Head of Policy, Regeneration and Property: Town Hall, Reigate
 

Attendance Details

Present:
Head of Policy, Regeneration and Property
Also Present:
N/A
Substitutes:
N/A
Min NoDescriptionResolution
Part II(Confidential)
1 Disposal of Residential Premises in Willow and Delamere Roads, Woodhatch
  • Disposal Report
RESOLVED that the:

(i) disposal of the premises known as 1 Delamere Road and 10 Willow Road in Woodhatch, Reigate to Cherchfelle Housing Association be approved for the amount set out in the recommended option and financial implications within the report; and

(ii) The Head of Policy, Regeneration and Property, in consultation with the Executive Member for Partnership and Property, agree the final terms and complete the disposal of both premises.

Reasons for Decisions: Both premises are surplus to Council requirements and the sale will produce a capital receipt which will generate investment income which is in excess of the current annual rent.

Alternative Options
The following alternative options were considered and rejected:
• Maintain the current arrangement, where the premises are simply leased to Cherchfelle Housing; or
• Try and seek vacant possession of the houses and then sell on the open market for an increased capital value.
N/A