Issue - meetings

Reporting Person – Kevin Foster

The Executive received a report which sought approval to sell the freehold interest in the front (north) building of CMS House, 45 Poole Road.  It was noted that the newly implemented Commercial Protocol had been consulted as part of the decision making process.  It was confirmed that the proposed sale achieved best value for the site and was in line with Market Value estimated by a Red Book valuation.  The Executive was advised that the proposed disposal would facilitate the relocation of an existing tenant of the Council’s Goldsworth Road Industrial Estate which would allow redevelopment of the Estate and improve the Council’s financial position.  The Overview and Scrutiny Committee had considered the proposal at its meeting on 11 December 2023 and was supportive.

RESOLVEd

That the Council dispose of the freehold interest in the front (north) building of CMS House, 45 Poole Road.

Reason:   This disposal of the front building of CMS House will generate a capital receipt that is supported by a Red Book valuation and should enable the progression of a redevelopment scheme at Goldsworth Road Industrial Estate by relocating an existing occupier to CMS House.