Decision Maker: Officer Decision
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Decision made to enter into a Deed of Surrender at the above property. The Council owns the freehold of this property and had granted long leases expiring in 2042 and 2046. The assignment/surrender premium paid was £137,500.
The Decision was taken for the following reasons:
· Opportunity to strategically manage the Council’s estate. The Council owns the freehold of the land.
· 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 assignment/surrender premium was Market Value.
There were no alternative sites to consider.
Publication date: 06/07/2020
Date of decision: 26/06/2020