Agenda and decisions

Special Meeting, Cabinet - Monday, 19th July, 2021 2.00 pm

Venue: Council Chamber - Council Offices. View directions

Contact: Emma Denny  Email: emma.denny@north-norfolk.gov.uk

Items
No. Item

2.

Public Questions and Statements

To receive questions and statements from the public, if any.

3.

Items of Urgent Business

To determine any other items of business which the Chairman decides should be considered as a matter of urgency pursuant to Section 100B(4)(b) of the Local Government Act 1972

4.

Declarations of Interest pdf icon PDF 233 KB

Members are asked at this stage to declare any interests that they may have in any of the following items on the agenda. The Code of Conduct for Members requries that declarations include the nature of the interest and whether it is a disclosable pecuniary interest (see attached guidance and flowchart)

5.

Disposal of a Property pdf icon PDF 144 KB

Summary:

 

 

 

 

 

 

 

 

 

 

 

 

 

Options considered:

The Council acquired a mixed use property in 2017 and part of which has been let for holiday accommodation.  The property has not been performing as anticipated and is not likely to reach the desired financial return in the future and therefore a sale of the property is proposed.

 

The property has been advertised on the open market and a number of offers have been received. Officers are now seeking authority to sell the property.

 

The village shop does not form part of this proposal and is to be retained with tenant remaining. 

 

The Council could retain the property, however it does not produce the financial returns required and does not support the Councils Corporate Plan objectives.

 

Conclusions:

 

During ownership the performance of the holiday let property has been monitored and whilst some improvements have been gained, overall the property has not secured the level of income and financial return envisaged. This has been further impacted by the need to close the property during the national lockdown. 

 

As financial returns in accordance with the Councils Asset Management Plan are not being achieved, it is proposed to sell this part of the property and to retain the community shop and tenant on the existing lease terms.

 

Following the property having being advertised for sale on the open market best and final offers have been received.  These offers have been qualified and assessed.   Acceptance of the recommended offer will result in a capital receipt for the Council upon legal completion.

 

Recommendations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reasons for

Recommendations:

 

It is recommended to Cabinet to approve the disposal of the property as outlined in the exempt appendix.

 

Should there be any further changes to the offer made, to delegate to the s151 officer, in consultation with the portfolio holder, the ability to dispose of the property:

·         To a different buyer at the same sum or

·         For any value exceeding the original sale price

·         At a reduction of up to 10% of the agreed sale price

·         Allowing for any additional costs incurred

 

 

The disposal is in accordance with the Council’s Disposal policy and the offer is deemed to be the best financial consideration reasonably obtainable at the current time.

 

               

Cabinet Member(s)

Cllr E Seward

Ward(s) affected

Itteringham/Erpingham

Contact Officer, telephone number and email:

Renata Garfoot, Asset Strategy Manager.   Tel. 01263 516086 Renata.garfoot@north-norfolk.gov.uk

 

 

Additional documents:

Decision:

Decision

RESOLVED:

 

To approve the disposal of the property as outlined in the exempt appendix.

 

Should there be any further changes to the offer made, to delegate to the s151 officer, in consultation with the portfolio holder, the ability to dispose of the property:

·         To a different buyer at the same sum or

·         For any value exceeding the original sale price

·         At a reduction of up to 10% of the agreed sale price

·         Allowing for any additional costs incurred

 

 

Reason for the decision:

 

The disposal is in accordance with the Council’s Disposal policy and the offer is deemed to be the best financial consideration reasonably obtainable at the current time.

 

6.

Exclusion of Press and Public

To pass the following resolution:

“That under Section 100A(4) of the Local Government Act 1972 the press and public be excluded from the meeting for the following item of business on the grounds that they involve the likely disclosure of exempt information as defined in paragraphs _ of Part I ofSchedule 12A (as amended) to the Act.”

7.

Private Business