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 to secure purchase of the property per seller's particulars:

Wickes Basingstoke, Churchill Way, Basingstoke RG21 6AA

Maximum price: £12,973.00

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 competive 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: 29/01/2019