Resolved – That

(1)  Quarrybank Industrial Estate, Quarrybank Street, Birkenhead be declared surplus to requirements; and

(2)  Delegated authority be given to the Director of Law and Governance, in consultation with the Director of Regeneration and Place, to arrange for its disposal by auction and subsequent sale on the basis as set out in paragraph 3.3 of the report.

To meet targets for the generation of capital receipts from the sale of non-operational property assets.

The Council’s Policy and Resources Committee at its meeting of 30 November 2021, amongst other matters, endorsed the recommendations of CIPFA’ s Local Government Finance Review in which included a recommendation to:

“Identify asset disposals to offset the risk of increased council borrowing which could fund the repair and maintenance of existing council assets or the cost of the capitalisation direction or future potential regeneration projects.”

The proposals within this report are in furtherance of the implementation of the above recommendations.

The disposal will also remove any potential liabilities, including management obligations in respect of the property.

The other option is for the Council to retain ownership of this property in order to continue to receive a rental income.

The property has been considered by the Council’s Capital and Assets Group taking into account the Council’s targets for the generation of capital receipts. The need to generate capital receipts is considered to be a priority, consequently disposal is the preferred option.