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
· 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: firstname.lastname@example.org Tel: 01865 252394.
Reason No Public Access: Schedule 12A(3)
- 24/07/2015 - Sale of Sub Station Sites
- 03/07/2014 - City Executive Board (became Cabinet on 13 May 2019) Appendix 3_ Disposal of Sub Station Sites_Confidential 03/07/2014
- 03/07/2014 - City Executive Board (became Cabinet on 13 May 2019) Disposal of Sub Station Sites 03/07/2014