Decision details

To approve recommendations for purchase and sale of assets and terms of leases

(over £1m – Cabinet decision, under £1m – Cabinet Member decision,

in consultation with the Leader)

Part 2

The Cabinet Member for Business Services asked the Cabinet Associate for Assets and Regeneration to introduce the report concerning the sale of the former Redwood Care Home in Guildford. The Cabinet agreed to approve the sale but strongly recommended that the Council tried to negotiate a ransom strip, as part of the deal.

RESOLVED:

1.       That the sale of the land, as outlined in Annex 1 of the submitted report, extending to c1ha (2.4 acres) be approved to the developer, named in the submitted report, on an unconditional basis for a residential development, for the figure set out in the submitted report.

2.       That delegation to the Strategic Director for Business Services, in consultation with the Cabinet Member for Business Services and the Leader of the Council, for a 5% variation in the agreed sale price to reflect possible changes and circumstances as a result of the due diligence process, be approved.

Reasons for Decisions:

The sale of the property is required to contribute towards the County Council’s Investment Strategy and to dispose of a property no longer considered suited to ongoing service delivery, nor capable of generating significant income.