Issue - decisions

The Executive Meeting considered the outcome of the marketing of Hygarth House, Wellington Road, and has agreed that

·           that, in accordance with best consideration obligations, approval be given to the sale of Hygarth House to the bidder referred to as Party B in the exempt appendix, for mixed residential/ retail uses approved;

·            in the event that the Party B fails to complete the purchase of the building the Corporate Director Corporate and Support Services, in consultation with the Executive Councillor (Corporate, Customer & Community Services) be authorised to secure a sale to another party in order to obtain the best possible capital receipt;

·            should investigations reveal matters which justify a reduction in the purchase price of the building that any subsequent negotiations be delegated to the Corporate Director Corporate and Support Services, in consultation with the Executive Councillor (Corporate, Customer & Community Services), to agree.

(Note: the report contained information that is ‘not for publication’ in its appendix that had been circulated to executive councillors only)