Decision details

The purchase via cash reserves of a commercial investment property based on professional advice for the purpose of generating positive income return and capital growth

Decision Maker: Deputy Chief Executive - Graham Ebers

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:

Bid up to a max price with intention of securing purchase of the property seller's particulars:

Stapletons Tyre Services, Cygnet Park, Peterborough PE7 8JAA

Maximum Price: £17,220,000

Reasons for the decision:

Delivery of the Council's Property Investment Strategy

Alternative options considered:

Do not purchase, do not spend money, do not secure financial benefits.

Reduce purchase price/terms and expect seller to offer elsewhere on better terms in competitive market place.

Wards Affected: None Specific;

Dispensations: N/A

Other reasons / organisations consulted

N/A

Contact: Graham Ebers Email: graham.ebers@wokingham.gov.uk Tel: 0118 974 6557.

Publication date: 22/02/2019

Date of decision: 13/02/2019