Decision - Property acquisition in WC2 | Westminster City Council
Decision details

Decision - Property acquisition in WC2

Decision details

Property acquisition in WC2

Decision Maker: Cabinet Member for Finance, Property and Corporate Services

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

Property acquisition for investment purposes

Decision:

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 approved a gross spend for the acquisition of the freehold for the amount and address as set out in the report and delegated authority to the Executive Director of Growth, Planning and Housing to conclude negotiations in the best interest of the Council, including the negotiation of all terms and arranging for all legal documentation in association with the purchase to be completed.

 

Reasons for Decision 

The decision to purchase a central London office investment is for strategic proposes.

Publication date: 08/12/2017

Date of decision: 08/12/2017

Effective from: 16/12/2017