Decision details

Purchase of a property Portfolio in Fenland as a commercial investment (with confidential appendices)

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

To update members on the proposed acquisition of residential property known as Meadowcourt and located in Elm, near Wisbech. This property, if acquired, will assist Fenland District Council both in terms of supporting objectives from a housing duties and commercial investment perspective.

Decision:

AGREED to review the report, particularly the financial and legal implications as set out in confidential schedules 3 and 4 and:

 

a)    Authorise officers to purchase through the Council’s Section 151 Officer the portfolio of property available at Meadowcourt, Elm in consultation with the Portfolio Holders for Finance and Housing and following satisfactory due diligence procedures.

b)    Authorise officers to proceed with a planning application for the conversion of the main house to provide additional accommodation as detailed with costs to be approved in advance in consultation with the S151 Officer and Portfolio Holder for Finance.

Publication date: 30/09/2024

Date of decision: 30/09/2024

Decided at meeting: 30/09/2024 - Cabinet

Accompanying Documents: