Issue - items at meetings - Patcham Place

Report of the Strategic Director: Resources (copy attached).

(1)         That the disposal of Patcham Place and stables on a 125 year lease to the preferred bidder be approved, with the net capital receipt to be used to support the council’s corporate accommodation strategy – Workstyles transformation project and capital programme;

(2)         That should the preferred bidder withdraw, the Strategic Director Resources be authorised to continue with the disposal to a reserve bidder or to remarket the property as appropriate.

175.1    Councillor J. Kitcat introduced the report which detailed the marketing of Patcham Place and noted that a preferred bidder had been identified and that a capital receipt would be achieved, which was good news for the council.  He wished to thank the officers involved progressing the sale of the site.

175.2    Councillors G. Theobald and Mitchell both welcomed the report and the outcome.

175.3    RESOLVED:

(1)         That the disposal of Patcham Place and stables on a 125 year lease to the preferred bidder be approved, with the net capital receipt to be used to support the council’s corporate accommodation strategy – Workstyles transformation project and capital programme;

(2)         That should the preferred bidder withdraw, the Strategic Director Resources be authorised to continue with the disposal to a reserve bidder or to remarket the property as appropriate.