Disposal of Tynedale House, Holburn Lane, Ryton
Report of the Strategic Director, Economy, Innovation and Growth
Additional documents:
Minutes:
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Consideration has been given to the sale of Tynedale House for residential development, subject to planning permission. |
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RESOLVED - |
(i) |
That disposal of the freehold interest of the property as shown edged black on the plan attached to the report, for residential development subject to planning permission, to the recommended bidder named in the report, for a purchase price of the amount set out in the report be approved. |
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(ii) |
That the Strategic Director, Economy Innovation & Growth be given delegated authority to accept the next best offer in the event that the recommended bidder withdraws from the purchase. |
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The above decisions have been made for the following reasons: |
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(A) |
To dispose of an asset and realise a capital receipt. |
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(B) |
To enable development of new homes in Gateshead. |