Decision details

RESOLVED:

1.    That the freehold interest in 23/25 and 27/ 29 Commercial Road (including land to the rear) from the Canal and River Trust (CRT), edged red on the plan attached be acquired.

2.    That if so required to enable the proposal to proceed, that additional access rights over adjoining properties at a price the Asset Manager, in consultation with the Cabinet Member for Regeneration & Economy, considers to be appropriate be acquired;

3.    That the freehold and leasehold interests in the above-mentioned properties be disposed of, together with any access rights, to the bidder offering the most advantageous proposal in the opinion of the Cabinet Member for Regeneration and Economy, and in any event at not less than market value.

4.    That any ancillary documents the Council Solicitor (following consultation with the Asset Manager) considers necessary or desirable to enable the transaction to proceed including (if so required by the purchaser) an Agreement restricting the Council’s pre-contract negotiations to the purchaser for a period not exceeding 4 months be entered into.