Decision details

1.            That this report be exempt from disclosure by virtue of the Local Government Act 1972, Schedule 12A, Part 1, paragraph 1, in that it contains information relating to an individual and paragraph 3 in that it refers to the financial or business affairs of others (including the authority holding that information).

2.            That the Cabinet Member for Finance, Property and Corporate Services agreed to delegate authority to the Executive Director of Growth, Planning and Housing to purchase the flats as detailed in the report, to conclude all necessary negotiations and to oversee legal documentation in association with the Council’s in-house legal team.

3.            In addition, the Cabinet Member for Finance, Property and Corporate Services noted the Stamp Duty Land Tax costs associated with the acquisitions as detailed in the report.

Reasons for Decision

1.         Increasing the Council’s ownership to aid and facilitate longer term aspirations for the site.

2.            The properties will be held for investment purposes and may be used for temporary accommodation or under Assured Shorthold Tenancies.