Decision details

Decision made to purchase part of the freehold of the above property, which immediately adjoins the Council’s freehold. The price paid was £107,000.

Reason:

The Decision was taken for the following reasons:

·         Opportunity for strategic purchase. The Council owns the immediately adjoining land and building and by acquiring would have freehold ownership of the entire holding.

·         Short to medium term aspiration for redevelopment of site to support regeneration for potential housing scheme in accordance with Draft Local Plan allocation.

·         An independent valuation was obtained confirming the price paid was Market Value.

There were no alternative sites to consider.

There are no Crime & Disorder, Equality, Social Value in Contracts, HR, Legal, or ICT implications.