Decision details

The purpose of this report is to confirm that the subject property is surplus to the Council’s operational requirements and Officers are authorised to dispose of the property via either a private treaty sale to the existing lessee or via Auction at the earliest opportunity.

RESOLVED - That:
The sale of the freehold to the existing tenant via a private treaty sale. In parallel the asset will be prepared for and entered into an Auction on the basis of the tenant remaining in situ. This is proposed to ensure an agreed time line is worked towards. If the Private treaty sale is concluded before the Auction date, the asset will be sold to the existing tenant
The Council will include a buy back provision at Auction if the tenant vacates and the site is not developed within 3 years so to protect the Councils commercial position.
The authority to agree the private treaty price and auction reserve is to be delegated to the Interim Director of Economy

Option 1 - To retain the property and agree a new lease with the existing tenant.
This option is not recommended as the Council has no further operational use for the visitor Centre Property and its retention would create an on-going maintenance responsibility

Option 1 and 2

Consultation with Ward Cllrs, Finance, Legal and Property