Issue - meetings

Consideration has been given to the surplus declaration of Site 1 South Shore Road shown edged black on the plan attached to the report and its disposal to ES Gateshead Limited.

The alternative options to that being recommended, but which were discounted, included retaining the site with the existing long leasehold or disposing of the site on a long leasehold.

RESOLVED -

(i)

That the surplus declaration of Site 1 South Shore Road, Gateshead be approved.

(ii)

That the disposal of Site 1 South Shore Road direct to ES Gateshead Limited for a purchase price of the amount set out in the report be approved.

The above decisions have been made for the following reasons:

(A)

To manage resources and rationalise the Councils assets in line with the Corporate Asset Strategy and Management Plan.

(B)

To encourage the building of sufficient new homes using land sustainably and prioritising the use of brownfield land.

(C)

To dispose of an unused property and realise a capital receipt.