The Committee considered a report seeking authority to dispose of 160-163 Friar Street.  The report provided feedback following a strategic review of the Council’s options regarding investment assets. The following documents were attached to the report:

·         Appendix A - plan of the property

·         Appendix B - detailed Asset Summary Report setting out the relevant information on the tenants, property related costs and values and recommended asset management actions

·         Appendix C – high-level RAG rated options assessment

·         Appendix D - Investment Review

Resolved –

(1)       That the freehold interest in 160-163 Friar Street be marketed for disposal as an investment/redevelopment opportunity;

2)         That the Executive Director for Economic Growth and Neighbourhood Services, in consultation with the Leader of the Council, the Lead Councillor for Planning & Assets, the Director of Finance and the Assistant Director of Legal and Democratic Services, be authorised to dispose of the property to a selected bidder on the best terms available to secure Best Consideration.