Issue - items at meetings - 251-253 Preston Road Brighton - Disposal

Report of the Executive Director for Finance & Resources (copy attached).

RESOLVED:

(1)               That approval be given to the disposal of the property on a 150 year lease to Southern Housing for a target capital receipt subject to planning and variation depending on the number of new houses permitted for development on the site. 

(2)               That the detailed terms to be settled by the Executive Director of Finance & Resources and the Head of Law.

107.1    The Executive Director of Finance & Resources introduced the report that related to the disposal of 251-253 Preston Road, Brighton; she stated that the report advised the Committee of the outcome of the marketing exercise; the capital from which would be used as part of Workstyles Phase 2. The recommended purchaser was Southern Housing, and further information on the bids was contained in the Part 2 appendix. Officers had spent time considering the options and were confident with the recommendation.

107.2    Councillor Randall noted that would not support the recommendation as he felt one of the other options would be better for the future of the city.

107.3    The Chair then put the recommendation to the vote.

107.4    RESOLVED:

(1)         That approval be given to the disposal of the property on a 150 year lease to Southern Housing for a target capital receipt subject to planning and variation depending on the number of new houses permitted for development on the site. 

(2)         That the detailed terms to be settled by the Executive Director of Finance & Resources and the Head of Law.