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RULE 16 Property acquisition - Bath

 

 

The capital programme for 2016/17 currently has £5.9m fully approved and a further £5m provisionally approved for property acquisitions. This report seeks to move an element of the £5m provisionally approved budget to a full approval in order to fully fund an acquisition of a property interest in Bath. 

The decision is urgent as a result of the owner of the property requiring a completion date within 10 working days of exchanging Heads of Terms which were agreed on 12 October 2016. Appropriate due diligence will be undertaken prior to completion.

Decision type: Key

Decision status: Approved

Notice of proposed decision first published: 27/10/2016

This decision will be taken under urgency procedures.

Reason for urgency:
The decision is urgent as a result of the owner of the property requiring a completion date within 10 working days of exchanging Heads of Terms which were agreed on 12 October 2016. Appropriate due diligence will be undertaken prior to completion.

Anticipated restriction: Part exempt  -

Decision Type: Key Decision;

Decision due: 26 Oct 2016 by Cabinet Member - Finance and Efficiency

Lead director: Strategic Director - Resources

Contact: Richard Long, Head of Property Services Email: richard_long@bathnes.gov.uk Tel: 01225 477075.

EFP Reference: E2916

Call-In Information: Not for Call In.

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