Issue details

Issue details

Purchase the Long Leasehold interest in 12-16 St.Michael’s Street, Oxford

The City Council has been offered an off market opportunity to purchase the long leasehold interest in 12-16 St. Michael’s Street, Oxford and has submitted an offer to the vendor.

The offer was subsequently accepted and authority is now sought to purchase the long leasehold subject to:
Due diligence
External valuation

The report will also discuss other property investment opportunity in the city.

Decision type: Key

Reason Key: Expenditure, income or savings of £500,000 or greater;

Decision status: Abandoned

Wards affected: Carfax;

Notice of proposed decision first published: 30/05/2017

This decision will be taken under urgency procedures.

Reason for urgency:
Fewer than 28 days notice

Anticipated restriction: Part exempt  - View reasons

Decision due: 15 Aug 2017 by City Executive Board (became Cabinet on 13 May 2019)

Lead member: Finance, Asset Management

Lead director: Interim Assistant Chief Executive Regeneration and Economy

Department: Economic Development

Contact: Jane Winfield, Head of Corporate Property Email: jwinfield@oxford.gov.uk Tel: 01865 252551.

Reason date could change: Provisional: Decision reliant on another action or process

Is the date subject to change: No