Decision details

Decision of:

Councillor Robertson, Executive Councillor for Finance and Resources

Reference:

19/URGENCY/SR/6

Date of decision:            

17 July 2019

Recorded on:  17 July 2019

Decision Type:

Key Decision

Matter for Decision:

Consider the acquisition of long leasehold interest in Units 1-10, Nuffield Close, Nuffield Road Industrial Estate, Cambridge, CB4 1SS

Why the decision had to be made (and any alternative options):

The vendor, required the transaction to complete within 20 working days from receipt of contract documentation and has only offered exclusivity for this period.

The Executive Councillor’s decision(s):

Approve the purchase of Units 1-10 Nuffield Close, Cambridge, for £5.0m plus acquisition costs.

Reasons for the decision:

As detailed in the Officers report.

Scrutiny consideration:

The Chair and Spokesperson of Strategy and Resources Scrutiny Committee were consulted prior to the action being authorised.

Report:

A briefing note was submitted to the Executive Councillor (Chair and spokes) and will be reported t the Strategy and Resources Scrutiny Committee on 7 October 2019.

Conflicts of interest:

None

Comments:

The decision will be reported back to the Strategy and Resources Scrutiny Committee on 7 October 2019.