The Asset & Enterprise Committee on 15 July 2014 resolved “That conditional contracts for the sale of the property are exchanged with the highest and most compliant bidder (Bid B), with the Council then negotiating to retain 5 units for revenue purposes.”

A further report was presented to the Asset & Enterprise Committee on 17 September 2014 confirming that the Council’s solicitors had been instructed regarding the sale and negotiations had been undertaken to retain 5 units at a discount to current values.

Details of the proposed acquisition of the 5 units were set out in a confidential appendix  before Members.

Cllr Quirk MOVED and Cllr Sapwell SECONDED the recommendations within the report and it was RESOLVED:

1.      That delegated authority be given to the Acting Chief Executive to approve and enter into the conditional contract on behalf of the Council relating to the acquisition of the 5 x 2 bedroom apartment units as set out in exempt Appendix 1(Confidential) but such delegated authority shall be conditional upon best consideration relating to such acquisition and the connected disposal being reaffirmed to the satisfaction of the Section 151 Officer at the date of exchange of contracts by an independent RICS (Royal Institution of Chartered Surveyors) qualified surveyor. 

2.    Members approve a virement from the Parking and Improvement Scheme to address the reduction in the original capital receipt anticipated for this sale.