Decision details

The Executive will be asked to consider the possible disposal of the freehold interest in a property on Royley Carr, Bredbury to Equity Housing Group at undervalue.

The Executive considered and approved a proposal to dispose disposal of Royley Carr, Bredbury, at an undervalue to the Equity Housing Group (option A in the report) for the sum offered for the development as outlined in the report upon reliance of the general Consents in Section 25 of the Local Government Act 1988.

(NOTE: the appendix to the report contained information ‘not for publication’ that had been circulated to executive councillors only)

The Executive rejected the options (b) ‘Accept the building back from EHG and take on its management and maintenance’ and (c) ‘Accept the building back disposing of it on the open market’ on the grounds that option A would lead to the provision of needed social housing while options B and C would incur additional costs to the Council which were likely to outweigh the income or capital receipt.