Issue - meetings

The Deputy Leader of the Council and Cabinet Member for Finance, Education, and Skills, the Director of Finance and the Head of Property Assets submitted a joint report seeking authority to acquire the freehold interest in a property in Park South, Swindon. The joint report set out how the acquisition of the freehold of this property, subject to the existing occupational leases, would secure a good income stream for the Council. It would also enable the Council opportunity to address some of the long-standing maintenance and repair issues affecting the property.

Councillor Holland introduced the report and set it in the context of the agreed Commercial Investment Strategy.

Ward Councillors Janine Howarth and Basil Solomon along with Councillor Bob Wright asked questions concerning the condition of the property and actions that the Council might take should it be acquired.  The Leader, the Deputy Leader, and the Head of Property Assets responded at the meeting.  Councillor Dale Heenan, Cabinet Member for the Town Centre, asked colleagues to consider if there were similar properties in the Borough that the Council might wish to acquire.  The Deputy Leader responded at the meeting.

Resolved

1)   That the Chief Legal Officer be authorised, in consultation with the Head of Property Assets, to complete the acquisition of the freehold interest in the property identified at paragraph 3.1 of this Report on the terms outlined in paragraph 3.8 of this Report, and on such other detailed terms and conditions as she may agree in order to protect the Council’s interest.

The reasons for the decision and alternative options are as set out in the report to the meeting.