Issue - decisions

The Cabinet considered a proposal for the Council to acquire the former BHS building, identified as a key strategic asset by the Cabinet in December 2017, and agreed to delegate to the Corporate Director for Place Management & Regeneration and Borough Treasurer, in consultation with the Leader of the Council and the Cabinet Members for Economy & Regeneration and Reform & Governance, authority to

•        acquire the former BHS store at a price up to the valuation set out in Confidential Appendix 5;

•        agree the optimum means to hold and manage the asset (together as appropriate with other Council assets);

•        authorise the Head of Legal, Democratic Governance and Estate & Asset Management to take such other steps as were appropriate and necessary to secure the acquisition and ongoing management and regeneration of the asset.

(Note: the report contained information ‘not for publication’ in its appendices that had been circulated to cabinet members only).