Further to Minute 68 above, the Executive Director of Economic Growth & Neighbourhoods submitted a report on the outcome of a marketing exercise to dispose of the freehold of the former Phoenix School, 40 Christchurch Road on the terms set out in the report.  The report recommended acceptance of an unconditional offer for the property from Bidder A to use the property for educational purposes.  The Council retained the option to revert to the other offers without any real loss of opportunity, in the event the preferred bidder was unable to move as promptly as expected to conclude the agreement.  The following documents were attached to the report:

Appendix 1 – Location Plan;

Appendix 2 - Tabulated summary of offers;

Appendix 3 – Evaluation Matrix;

Appendix 4- Culture Development comments; and

Appendix 5- BFfC comments on the proposal.

Resolved –

(1)          That the Property be sold to Bidder A on an unconditional basis on the terms set out in paragraph 4.3.1 of the report;

(2)          That, if the purchaser was unable to perform to an acceptable timescale, the Executive Director for Economic Growth and Neighbourhood Services, in consultation with the Leader of the Council, the Lead Councillor for Planning & Assets and the Assistant Director for Legal and Democratic Services to:

a)       agree a revised offer price and terms where appropriate which secured best consideration;

b)      re-engage with other bidders as appropriate or remarket the property for disposal at best consideration.

(Exempt information as defined in paragraph 3).