Anticipated reasons for restriction

Approach to Disposal of Assets and Property Acquisitions

By virtue of paragraph(s) 3 of Part 1 of Schedule 12A of the Local Government Act 1972.

Explanation of Reasons

Reason restricted justification

The Council have been given the opportunity to make a commercial property acquisition and this is time critical. The site will be put on the open market but the Council have been given an opportunity to make an offer for the purchase. The sale is linked to another development by a company and certain information is required prior to commencement of development. Obtaining the "in principle" decision to purchase may be sufficient for this company to start the development process and generate private investment in the site.

The Chairman of the Overview and Scrutiny Committee was notified of this late key decision being an exempt item on 7 March 2019. He has duly given his consent for this item to be considered at the 26 March 2019 meeting bearing in mind the reasons for a decsion, as detailed above.