The report will recommend the disposal of the investment asset at Davis House, 69-73 High Street, Croydon, CR0 1QE– Asset Disposal. The report is required as the value of the disposal is over £1,000,000. This asset has been fully marketed by SHW and is now under offer.
The decision required is to approve the disposal.
Decision type: Key
Decision status: For Determination
Wards affected: Fairfield;
Notice of proposed decision first published: 21/02/2024
This decision will be taken under urgency procedures.
Reason for urgency:
The disposal of this asset was approved in the 24 May 2023 Cabinet Meeting, has been fully marketed and has now gone under offer and in solicitor’s hands for a value more than £1,000,000. The decision is time sensitive as legals have been agreed by both parties and we are now able to exchange, with a completion set for 10 working days thereafter.
Anticipated restriction: Part exempt - View reasons
Financial Impact: Expenditure or savings of up to £5,000,000;
Decision due: Not before 29th Feb 2024 by Corporate Director of Resources (Section 151)
Lead member: Cabinet Member for Finance
Lead director: Corporate Director of Resources (Section 151)
Department: Resources Directorate
Contact: Robert Lines, Interim Head of Property Services Email: robert.lines@croydon.gov.uk.