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 Assets and Regeneration Programmes drew Members attention to an additional recommendation, tabled at the meeting, and said that this acquisition was a good investment for the county.

RESOLVED (as amended):

(1)       That freehold interest in this office property in Ashtead be acquired for a purchase price, together with ancillary costs of purchase (stamp duty, legal and surveyors fees), as set out in the submitted report, for the potential long-term school expansion in this area.

(2)     Officers in Property review the options for the future use of the property in 2017 and beyond in conjunction with the Schools Service and Finance and report the outcomes to the Strategic Director for Business Services in consultation with the Leader of the Council and the Cabinet Member for Asset and Regeneration Programmes prior to the lease expiry in November 2016.

Reasons for Decisions:

The acquisition will provide the opportunity for the Council to consider and secure the longer term needs of schooling provision in the Ashtead / Leatherhead area.  The property will in the meantime provide an income for the County Council in the short term.