The Director of Property & Assets submitted a report to seek Cabinet’s approval for the disposal of a long leasehold in 16-17 Turl Street, Oxford. 

Cabinet is recommended to:

1.    Approve the disposal of a long leasehold interest in 16-17 Turl Street, as set out in the report. 

2.    Delegate authority to the Director Property & Assets in consultation with the Deputy Leader and Cabinet Member for Finance & Asset Management, the Director of Law, Governance & Strategy and the Group Finance Director the agreement of the detailed terms for the disposal and to enter into all necessary documentation to effect the disposal on the basis that the terms comply with s.123 of the Local Government Act 1972, where powers are not already delegated within the constitution. 

Cabinet resolved to:

1.       Approve the disposal of a long leasehold interest in 16-17 Turl Street, as set out in the report. 

2.       Delegate authority to the Director Property & Assets in consultation with the Deputy Leader and Cabinet Member for Finance & Asset Management, the Director of Law, Governance & Strategy and the Group Finance Director the agreement of the detailed terms for the disposal and to enter into all necessary documentation to effect the disposal on the basis that the terms comply with s.123 of the Local Government Act 1972, where powers are not already delegated within the constitution. 

The Director of Property & Assets submitted a report to seek Cabinet’s approval for the disposal of a long leasehold in 16-17 Turl Street, Oxford. 

Councillor Turner presented the report. He thanked the officers for their work in actively managing the Council’s property portfolio. He noted the commercial sensitivity of the decision and the importance of the property.

Cabinet resolved to:

1.       Approve the disposal of a long leasehold interest in 16-17 Turl Street, as set out in the report. 

2.       Delegate authority to the Director Property & Assets in consultation with the Deputy Leader and Cabinet Member for Finance & Asset Management, the Director of Law, Governance & Strategy and the Group Finance Director the agreement of the detailed terms for the disposal and to enter into all necessary documentation to effect the disposal on the basis that the terms comply with s.123 of the Local Government Act 1972, where powers are not already delegated within the constitution.