Decision details

Proposed acquisition of Freehold interest held in Forge Industrial Estate, Greenacres Road, Oldham [St.Marys]

Decision Maker: Director of Economy

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

Following approval of a business case by the Council's Property Appraisal Group ('PAG'), the purpose of the report is to seek approval for the Authority to proceed with the proposed purchase of the Freehold interest in Forge Industrial Estate, Oldham.

Decision:

RESOLVED - That the Council seek to progress the purchase of the opportunity subject to the heads of terms set out in Appendix Two of the report and to agree any minor amendments to the heads of terms recommended by legal or finance officers.

Reasons for the decision:

Option 1 - Do nothing.
Option 2 - Seek to negotiate a surrender or assignment.
Option 3 - Seek to acquire the Freehold investment.

Alternative options considered:

Option 1 - Do nothing.
Option 2 - Seek to negotiate a surrender or assignment.

Publication date: 02/08/2019

Date of decision: 02/08/2019

Effective from: 10/08/2019

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