Decision details

The Cabinet Member:

1.    Formally declared the asset surplus to operational requirements (in consultation with The Leader and Deputy Leader).

2.    Approved the sale of The Cottage (Old Swains Farm), Small Hills Road, Leigh, Reigate, RH2 8RQ to the party, at the price and subject to the conditions, noted in the Part 2 report. The sale is conditional upon the simultaneous surrender of the headlease held over the asset by HGR which has been agreed by the HGR Board.

3.    Approved the HGR premium for the surrender of its interest from the gross receipt and notes there is debt aligned to this asset, with both parties bearing their own costs and appointments of their own professional team.

4.    Delegated authority to the Section 151 officer in consultation with the Director of Land and Property to finalise the transaction and enter into all associated legal agreements.