That:-

(a)  the purchase of the southern campus of the Royal National College for the Blind, Venns Lane, Hereford as set out in the redline plan at Appendix 1 (“the Site”) be approved within a maximum budget of £6.25 million;

(b)  subject to the Chief Finance Officer being satisfied that appropriate heads of terms have been agreed, due diligence has been completed and the purchase provides value for money, the acting director economy and place, in consultation with the cabinet member contracts and assets, be authorised to complete the acquisition of the Site;

(c)  on acquisition, the Site be added into the council’s property portfolio for all asset management and maintenance purposes;

(d)  the acting director economy and place be authorised to take all operational decisions necessary to implement the above recommendations; and

(e)  a further report be brought to the executive following any acquisition, in order to determine whether the Site should be entered into the council’s development and regeneration programme.