Decision Maker: Executive Director for Place & Economic Growth
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
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.
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.
Option 1 - Do nothing.
Option 2 - Seek to negotiate a surrender or assignment.
Option 3 - Seek to acquire the Freehold investment.
Option 1 - Do nothing.
Option 2 - Seek to negotiate a surrender or assignment.
Other reasons / organisations consulted
In accordance with the Commercial Property
Investment Strategy approved by Cabinet in December 2017, a
business case was presented and approved by the PAG on 24 July
2019.
The PAG was attended by the Director of Finance, the Director of
Legal Services, the Deputy Chief Executive People and Place and the
Leader of the Council.
Contact: Mark Prestwich, Development Officer 0161 770 1660, Email: mark.prestwich@oldham.gov.uk Email: Mark.Prestwich@oldham.gov.uk.
Publication date: 02/08/2019
Date of decision: 02/08/2019
Effective from: 10/08/2019
Accompanying Documents: