1.That this report be exempt from disclosure by virtue
of the Local Government Act 1972 Schedule 12A, Part 1, Paragraph 3
(as amended), in that it contains information relating to the
financial or business affairs of any particular person (including
the authority holding that information).
2.That theCabinet Member for Finance, Property and Regeneration agreed to
delegate authority to the Executive Director of Finance and
Resources to purchase the long-leasehold interest in the property
as specified in the report, and to conclude all necessary
negotiations and oversee legal documentation.
3.That the Cabinet Member for Finance, Property and
Regeneration noted the Stamp Duty Land Tax costs and legal costs
estimated for the acquisition as detailed in the report.
Reasons
for Decision
The property will be held for investment purposes and may be
used for temporary accommodation or let under Assured Shorthold Tenancies (ASTs).