The Regeneration and Major Projects Service Manager has submitted a report which seeks approval to the disposal of the freehold interest in 83 sub station sites to Scottish and Southern Energy PLC

Officer Recommendations: That the City Executive Board

1. Approve the disposal of the freehold interest in 83 sub station sites on the terms set out in the Not for Publication Confidential Appendix 3 of this report.  The detailed provisions of the sale are to be approved by the Executive Director, City Regeneration.

2. Grant authority to the Executive Director of City Regeneration and Housing, in consultation with the Board Member, to vary or extend the sub station sites to be included in the transaction provided the transaction continues to represent best consideration.

The Regeneration and Major Projects Service submitted a report (previously circulated, now appended) which sought approval for the disposal of the freehold interest in 83 sub-station sites to Scottish and Southern Energy PLC

Cllr Turner, Executive Board Member for Finance, Asset Management and Public Health presented the report. The money from the sale will be used to fund the capital programme; the Council will retain 9 sites.

The City Executive Board resolved to:

1.    Approve the disposal of the freehold interest in 83 sub-station sites on the terms set out in the Not for Publication Confidential Appendix 3 of this report.  The detailed provisions of the sale are to be approved by the Executive Director, City Regeneration.

2.    Grant authority to the Executive Director of City Regeneration and Housing, in consultation with the Board Member, to vary or extend the sub- station sites to be included in the transaction provided the transaction continues to represent best consideration.

This paper contains one not for publication appendix to the report at agenda item 11

It contains information concerning the amount of the proposed sale.

The public interest in maintaining the exemption from publication is in order not to compromise commercially sensitive information under paragraph 3 of Part 1, Schedule 12A of the Local Government Act 1972.

The Board received and noted the contents of the not for publication appendix 3 to the report at item 11.