Issue - meetings

To consider a report of the Director of Finance, Assets and Resources, outlining options for the disposal and/or future management of the freehold premises at Market Street, Crediton.

The Cabinet had before it a report * of the Director of Finance, Assets and Resources, outlining options for the disposal and/or future management of the freehold premises at Market Street, Crediton.

The Cabinet Member for Housing outlined the contents of the report and a full discussion took place.

Returning to open session the Cabinet:

RESOLVED that: subject to contract, to dispose of the Crediton office building to Buyer 2 on the terms set out in paragraph 3.5 of the report, because:

(a)          The offer from Buyer 2 is the best offer put forward during the marketing period and it is a clear indication of the best consideration which can be reasonably obtained;

(b)          The offer from Buyer 2, although below the most recent unrestricted valuation, would not require vacant possession and thus save time and money in securing the transfer;

(c)          The Council realises a significant capital receipt and gives up future liability for an asset which is surplus to the Council’s requirements.

(d)          The offer from Crediton Town Council would result in disposal of the office for a capital receipt which was less than 50% of the restricted value.

(Proposed by Cllr R L Stanley and seconded by Cllr P H D Hare-Scott)

Note: *Report previously circulated.