Disposal of Industrial Estate at Quarrybank Street, Birkenhead
Decision Maker: Policy and Resources Committee
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
This report seeks approval to the disposal of
Quarrybank Industrial Estate, Quarrybank Street, Birkenhead, a
Council owned investment asset.
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.
Reasons for the decision:
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.
Alternative options considered:
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.
Publication date: 21/03/2022
Date of decision: 16/03/2022
Decided at meeting: 16/03/2022 - Policy and Resources Committee
Effective from: 25/03/2022
- Disposal of Quarrybank Street Industrial Estate Cover Report PDF 92 KB
- Minute Extract Disposal of Industrial Estate at Quarrybank Street Birkenhead PDF 50 KB
- Disposal of Industrial Estate at Quarrybank Street, Bikenhead, 26/01/2022 Economy & Regeneration Committee PDF 88 KB
- Appendix 1. Quarrybank Industrial Estate siteplan, 26/01/2022 Economy & Regeneration Committee PDF 130 KB