Issue details

Issue details

Sale of Sub Station Sites

Disposal of freehold interest in sub-station sites across the city.


In July 2014, CEB Granted 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.


Financial Information – disposal price of £1.25m


Options Considered

·         Do nothing – i.e. continue leasing to SSE with income of approx. £14,000 pa

·         Sell on open market – i.e. investment sale with likely proceeds in order of £500,000

·         Negotiate private treaty sale to existing lessee SSE. Agreed at £1.25m

Decision type: Key

Reason Key: Significant effect on people living or working in at least 2 wards;

Decision status: Implemented

Wards affected: (All Wards);

Notice of proposed decision first published: 17/04/2014

Explanation of anticipated restriction:
business affairs of the council.

Scrutiny Responsibility: Scrutiny Committee;

Decision due: 16 Mar 2015 by Executive Director for Regeneration and Housing

Department: Economic Development

Contact: David Edwards Email: Tel: 01865 252394.

Consultation process


Reason No Public Access: Schedule 12A(3)


Agenda items