Decision details

Offer to purchase a Commercial Property in accordance with the Commercial Property Investment Strategy

Reference: D956

Decision Maker: Acting Chief Executive

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

To enable an offer to be made to purchase a commercial property in accordance with the Commercial Property Investment Strategy.

Decision:

To make an offer to purchase commercial property pursuant to the Commercial Property Investment Strategy in accordance with the exempt report reference CPIS 03. This decision was made in compliance with the urgency provisions under Regulation 11 of the Local Authorities (Executive Arrangements) (Access to Information) (England) Regulations 2012.

Reasons for the decision:

To enable GBC to make an offer to purchase commercial property in accordance with the Commercial Property Investment Strategy so that it can meet its income generation target.

Alternative options considered:

An alternative would be not to offer to purchase commercial property in accordance with the Commercial Property Investment Strategy. However, this would mean that the opportunity to meet GBC’s planned income generation, in this instance, would be lost.

Publication date: 06/03/2020

Date of decision: 06/03/2020

Accompanying Documents: