Issue details

RULE 16 Acquisition of an income generating office investment to incorporate within the Commercial Estate

This report sets out the terms of the proposed acquisition of an income generating office investment property.

Decision type: Key

Decision status: Approved

Notice of proposed decision first published: 05/04/2017

This decision will be taken under urgency procedures.

Reason for urgency:
The decision is being made in accordance with Rule 16 of the Council’s constitution. It would generally to be an ordinary single member decision but to enable the transaction to complete successfully it is necessary to use of the Council’s urgency procedure.
The urgency arises as a result of the owner of the property requiring exchange of contracts within 10 working days of agreeing to dispose of the property to the Council. The acquisition will be subject to appropriate due diligence for a transaction of this nature.

Anticipated restriction: Part exempt  -

Explanation of anticipated restriction:
The Report contains exempt information, according to the category 3 (Information relating to the financial or business affairs of any particular person, including the authority holding that information) set out in the Local Government Act 1972 (amended Schedule 12A).
The public interest test has been applied, and it is concluded that the public interest in maintaining the exemption outweighs the public interest in disclosure at this time. It is therefore recommended that the Report be withheld from publication on the Council website.

Decision Type: Key Decision;

Decision due: 5 Apr 2017 by Cabinet Member - Finance and Efficiency, Leader of the Council

Lead director: Strategic Director - Resources

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

EFP Reference: E2964

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