Decision details

Asset management- Granville Cinema

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

The Council’s Corporate Statement for 2019-2023 sets out the direction of travel for the next four years. The assets identified below represent ageing property that requires repair and capital investment but, should this be completed,  will not improve the return on income, or fulfil any operational requirements.

Decision:

Cabinet agreed the following:

 

  1. To dispose of the Granville Cinema in accordance with the Council’s Community Asset Transfer Policy as listed in Option 1;
  2. To dispose of the Granville Cinema on the open market under Option 2, if the proposal to dispose under Option 1 does not bring forward a viable purchaser;
  3. To give delegated authority to the Director of Property, in consultation with the Disposal Surveyor to agree Heads of Terms and enter into the relevant negotiations;
  4. To give delegated authority to the Director of Law and Democracy to sign all documents necessary to give effect to the disposal.

Reasons for the decision:

Asset considered and decided on approving the recommended way forward.

Alternative options considered:

To retain the assets would not be in line with the asset strategy and medium-term financial strategy.

Publication date: 30/07/2021

Date of decision: 29/07/2021

Decided at meeting: 29/07/2021 - Cabinet

Effective from: 07/08/2021

Accompanying Documents: