Decision details

This report will be about the disposal of 37-39 Imperial Way. Delegated authority decision is required from the Corporate Director of Resources and s151 Officer to agree the terms and final price for the disposal included within Tranche 1 of the Assets Disposal Plan. 

This report recommends the disposal of the freehold of 37-39 Imperial Way.The objectives for the disposal were to secure maximum receipts, achieve bids that were on an unconditional basis with the lowest possible transactional risk and to target capital receipts with the preferred bidder by the end of the financial year.  Savills undertook a full open market process.  A transparent and clear process was provided for parties to undertake their due diligence to ensure considered bids.  There were 6 potential purchasers at best and final bids.  

RESOLVED to:

2.1 To approve the disposal of the freehold of 37-39 Imperial Way at the value stated in the confidential Part B report.