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 in conjunction with the Leader of 38 Telegraph Track, Carshalton, SM5 4AZ. 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 in consultation with the Leader the acquisition of the leasehold interest held by HGR over the property at the premium noted in the part 2 report. The premium for the surrender of HGR’s interest is payable by the Council from the gross receipt and it is noted as a debt aligned to this asset, with both parties bearing their own costs and appointments of their own professional team.

4.    Delegated authority to the Executive Director for Environment, Property, and Growth in consultation with the Director of Land and Property to finalise the transaction and enter into all associated legal agreements.