The Mayor will be asked to agree the disposal of Council-owned land to facilitate its redevelopment.

The recommendations were amended and then agreed.

DECISION

1.    To agree that the land and buildings at Ailsa Street, Lochnagar Street and Bromley Hall Road E14, as shown on the plan at Appendix A to the report, are surplus to the Council’s requirements.

2.    Having noted the valuation information set out in the exempt Appendix C to the report, agree to the disposal of the Council’s freehold interest in the land to Ailsa Wharf Development Ltd on the terms set out in the report and exempt Appendix B to the report.

3.    To authorise the Acting Corporate Director, Place, to agree to any non-material variations to the terms and the precise boundaries of the land to be sold in order to implement the recommendations above.

4.    To authorise the Corporate Director, Governance, following consultation with the Acting Corporate Director, Place, to enter into the necessary legal agreements required to implement the recommendations above.

Action by:

ACTING CORPORATE DIRECTOR, PLACE (A. SUTCLIFFE)

(Acting Divisional Director, Property and Major Programmes (R Chilcott)