Decision details

1.1 To seek the Director’s approval to accept the surrender of the lease for the property which is currently a shared equity property, the leaseholders and Council both holding a 50% share.
1.2 Where surrender is not agreed that the Director approves the sale of the Council’s share of the property at the same time as the leaseholders share is sold, if this is requested by the leaseholder. The reversion of the freehold to be dealt with co-terminus.
1.3 These options are to be provided in order that the property, does not remain unoccupied for an extended period of time and reduces the debt due to the Council in respect of rent and service charge payable.

The Director agreed to approve that the Council agree to sell the Council’s 50% share of the property along with the leaseholders share, including the freehold of the property which will be dealt with coterminously. The leaseholder to be responsible for all costs in relation to the sale including legal fees.

Appendix 1 to this report has been marked as exempt under Access to Information Procedure Rules 10.4 (3) on the basis that it contains information relating to the financial or business affairs of any particular person (including the authority holding that information) which, if disclosed to the public, would, or would be likely to prejudice the commercial interests of that person or of the Council. The information is exempt if and for so long as in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information. In this case the report author considers that it is in the public interest to maintain the exemption.