Disposal of Council Assets at Hanover Street Car Park and George House
Additional documents:
Minutes:
The Cabinet considered a report giving an update on the marketing exercise previously agreed in relation to the disposal of Council owned assets at Hanover Street Car Park and George House, Bromsgrove.
Members discussed the detail of the report and had particular regard to the strategic importance of the development of the site in the regeneration of the Town Centre.
RESOLVED:
(a) that the contents of the report be noted;
(b) that the long-term lease of the freehold land at Hanover Street Car Park and George House to the developer for the sum set out in the report be approved, subject to the confirmation by the District Valuer that the consideration is equivalent to or exceeds the commercial value of the land;
(c) that the arrangements for the management of the car park spaces at the site including the Council managing the car park on the basis that the income from the parking spaces will be retained by the Authority, be approved; and
(d) that delegated authority be granted to the Executive Director (Planning and Regeneration, Regulatory and Housing Services) in consultation with the Portfolio Holder and the Executive Director (Finance and Corporate Resources) to agree the final terms for the disposal of the land with the developer and to enter into the necessary legal documents required for the purposes of implementing (b) and (c) above.