Agenda and decisions

RESOLVED:

1  To approve the Council’s purchase of the freehold interest in 96-98 Leonard Street at the price set out in the Appendix and outlined in red on the plan attached to this report.

2  To authorise the Corporate Director of Legal HR and Regulatory Services to agree the terms for the acquisition of the freehold interest at 96-98 Leonard Street Hackney and to sign and complete all other relevant and ancillary legal documentation arising thereto on behalf of the Council.

3  To delegate to the Corporate Director of Finance and Resources authority to determine the most cost effective option in terms of financing the acquisition provided that it represents best value on the part of the Council.

REASONS FOR DECISION

The acquisition of this property will support both the Council’s financial and inward investment objectives. 

DETAILS OF ALTERNATIVE OPTIONS CONSIDERED AND REJECTED

No alternative options have been considered.

RECORD OF CONFLICTS OF INTEREST AND DISPENSATIONS GRANTED

None