The Director of Property and Assets submitted a report to Cabinet to approve the disposal of the freehold titles of Floyds Row and Old Mortuary in Oxford.

Cabinet is recommended to:

1.    Delegate authority to the Directory of Property and Assets, in consultation with the Director of Law, Governance and Strategy and the Group Finance Director and Lead Member for Finance and Asset Management to agree the final sale terms and enter into the final agreement and any other documents necessary to effect the transfer of the freehold titles of Floyds Row and Old Mortuary. The delegation will be on the basis that the sale will meet the requirements of s123 of the Local Government Act 1972 (which states that a council shall not dispose of land otherwise than by way of a short tenancy, for a consideration less than the best that can reasonable be obtained). 

Cabinet resolved to:

1.       Delegate authority to the Directory of Property and Assets, in consultation with the Director of Law, Governance and Strategy and the Group Finance Director and Lead Member for Finance and Asset Management to agree the final sale terms and enter into the final agreement and any other documents necessary to effect the transfer of the freehold titles of Floyds Row and Old Mortuary. The delegation will be on the basis that the sale will meet the requirements of s123 of the Local Government Act 1972 (which states that a council shall not dispose of land otherwise than by way of a short tenancy, for a consideration less than the best that can reasonable be obtained). 

The Director of Property and Assets had submitted a report to Cabinet to approve the disposal of the freehold titles of Floyds Row and Old Mortuary in Oxford.

Councillor Turner presented the report. He said that the city owned the freehold titles of Floyds row and Old Mortuary. He said that they did not want buildings to be empty so they had done market testing and received a bid which they would like to recommend that the council pursue. He said that this would be beneficial to the council and the city.

Cabinet resolved to:

1.       Delegate authority to the Directory of Property and Assets, in consultation with the Director of Law, Governance and Strategy and the Group Finance Director and Lead Member for Finance and Asset Management to agree the final sale terms and enter into the final agreement and any other documents necessary to effect the transfer of the freehold titles of Floyds Row and Old Mortuary. The delegation will be on the basis that the sale will meet the requirements of s123 of the Local Government Act 1972 (which states that a council shall not dispose of land otherwise than by way of a short tenancy, for a consideration less than the best that can reasonable be obtained).