Decision details

Sale of the Green Britain Centre, Turbine Way, Swaffham: Reference: D03/21

Decision Maker: Executive Member for Contract & Assets

Decision status: Recommendations approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

Sale of the Green Britain Centre, Turbine Way, Swaffham

Decision:

Agree and authorise Option 1 of the report and sell the Green Britain Centre in Swaffham as per the terms outlined in the report.

Reasons for the decision:

·        Secures the freehold interest

·        Generates an immediate capital receipt for the Council which could be ring-fenced for re-investment in Swaffham e.g. contribute towards providing a new leisure offer.

·        Secures a new company in the Breckland District and supports the expansion plans.

·        Supports inward investment

·        Creates employment opportunities

·        Prevents the Council’s ongoing void and marketing costs for the property.

Alternative options considered:

Option 1:

Agree and authorise Option 1 and sell the Green Britain Centre in Swaffham as per the terms outlined in the report.

 

Option 2:

Do not agree and authorise Option 1 and retain the Green Britain Centre.  The Council will lose the prospective buyer and the opportunity to support inward investment plus the Council will continue to be responsible for ongoing void costs until a Tenant/Buyer can be secured.  There is no timeline for securing an alternative disposal.

 

Publication date: 15/01/2021

Date of decision: 15/01/2021

Effective from: 23/01/2021

Accompanying Documents: