Land Registry, Leigh Court, Torrington Avenue, Coventry - Terms of Disposal
Report of the Executive Director of Place
(Listing Officer: G Stephens, tel: 024 7683 2577)
Additional documents:
Minutes:
Further to Minute 75 above, the Cabinet considered a report of the Executive Director of Place, which set out the commercially confidential aspects of the proposal for the disposal of the Council’s freehold interest in the site of the Land Registry offices on Torrington Avenue.
RESOLVED that the Cabinet:-
1. Approve the disposal of the Council’s freehold interest in the site of the Land Registry Offices at Torrington Avenue at a purchase price of the sum indicated within the report submitted.
2. Approve that the proceeds be allocated to the Strategic Property Review target to reduce debt servicing costs in accordance with the Council’s Medium Term Financial Strategy, which provides that Prudential borrowing should be repaid from capital receipts as they are generated.
3. Delegate to officers within Resources Directorate (Legal Services) to prepare and compete documentation for the freehold sale and collect the agreed purchase sum.