Disposal of former Records Office, Harold Street, Hereford to Hereford Cathedral School
Decision Maker: Cabinet member contracts and assets
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To approve the sale of the former records office, Harold Street, Hereford to Hereford Cathedral School at open market value.
(a) the sale of the former records office to Hereford Cathedral School at open market value be approved; and
(b) the director of resources be authorised to complete the sale.
Reasons for the decision:
This disposal route represents the most cost effective method for the council to realise the value of the asset.
The property is vacant and has been declared surplus to operational service delivery use.
Alternative options considered:
Retain property and refurbish for an internal user – no use has been identified for either a council or commissioning service.
Retain property and refurbish for commercial use – given the location and building configuration this option represents considerable work and requires a capital investment that is only likely to be realised in the very long term. This approach is also not in accordance with the current disposal policy.
Instruct selling agents to market the property on the open market – there is no guarantee that a higher value will be achieved and there is likely to be significant delay in disposal resulting in the council incurring greater costs than by the recommended disposal route.
Reason Key: Expenditure;
Contact: Tony Featherstone, Head of Corporate Asset Management Email: email@example.com.
Publication date: 02/11/2015
Date of decision: 02/11/2015
Effective from: 06/11/2015