Issue - meetings

See agenda for Cabinet Committee Assets Disposals, 17^th October 2024 for the published reports. Recommendations to Cabinet to be published in a supplementary agenda after the Cabinet Committee meeting.  

The Cabinet Committee considered a report that sought agreement to recommend to Cabinet the disposal of Slough County Court, Chalvey Park, Slough and approval to market the asset for disposal under the Council’s Asset Disposal Strategy.

The site had been declared surplus by the Council in 2022 and the proposal was dispose of the site via auction.   The Part II Appendices were noted and considered during Part I of the meeting without disclosing any of the exempt information.

A summary of the site and background was set out by the Director of Property and Assets.  Discussions had taken place with the Ministry of Justice and they were therefore aware of the Council’s plans for the freehold of the site.  The current tenant had recently extended their lease for a five-year term.  One of the options was to retain the property.  However, whilst it would retain the income stream of £107,750 per annum, the costs of servicing the Council’s debt outweighed the income generated hence this option was not recommended.

Sale via auction would provide the greatest financial benefit to the Council.  If the reserve price was not met the asset would not be disposed of.  Members discussed any potential impacts on neighbouring properties including the Magistrates Court and Slough Police Station and it was noted there would be communication with them to inform them of the intended process.

The proposed disposal had been subject to a due diligence process and Asset Appraisal and Disposal Framework calculation which would offer the best opportunity to realise the disposal of the asset in accordance with section 123 of the Local Government Act 1972.

At the conclusion of the discussion the Committee agreed to recommend disposal to Cabinet.

Recommended to Cabinet –

(a)  That the marketing and disposal of the asset referred to in Appendix A known as Slough County Court, Chalvey Park, Slough by way of auction as recommended within the report in Appendix A be agreed.

(b)  That the Reserve Price be in-line with the Red Book Valuation and include a 10% adjustment to the price, upwards and downwards. (within Appendix C to the report).

Resolved –  That the Part II appendices be noted.