Decision details

To approve the disposal of the Council’s long leasehold interest in a two bedroom first floor vacant flat on the open market and to ring fence the capital receipt to the enfranchisement pot. 

(i)         that approval be given to the disposal of the Council’s long leasehold interest in the subject property on the open market for a capital receipt;

(ii)        that approval be given to the Operational Director of Property and Projects, Regeneration and Growth, to agree the terms of the disposal and the most appropriate disposal route;

(iii)       that agreement be given to ring fence the net capital receipt to the enfranchisement pot, which needs to be maintained at a sufficient level to enable the Council to fund the purchase of the freehold or new extended lease term interests in suitable properties within the residential leasehold portfolio where the fixed term leases are coming to an end, as set out further in paragraphs 4.4 to 4.5 of the report from the Strategic Director of Regeneration and Growth.