Issue - meetings

Exmouth Street, Seamus O'Donnells

Meeting: 01/12/2021 - Policy and Resources Committee (Item 108)

108 Referral from Economy, Regeneration and Development Committee: Exmouth Street, Seamus O'Donnells pdf icon PDF 78 KB

Additional documents:

Minutes:

A report on the Economy, Regeneration and Development Committee’s recommendations from its meeting on 22 November in respect of the proposed disposal of the Council’s freehold interest in land at Exmouth Street, Birkenhead, to the existing lessee that holds a ground lease of the site and owns the operational public house which is sited thereon.

 

The report was before the Committee because in accordance with the Council’s Constitution any disposal of assets with a value in excess of £100,000 was reserved to Policy and Resources Committee.

 

Resolved – That,

 

(1)  the freehold interest of land at Exmouth Street, Birkenhead, (which is held via a ground lease with 56 years unexpired and occupied by an operational public house with a grassed area to one side), be declared surplus to the Council’s requirements.

 

(2)  the Director of Law & Governance be authorised, in consultation with the Director of Regeneration and Place, to dispose of the property to the current lessee, JSM Company Group Ltd for a price of £120,000, plus payment of the Council’s legal costs.

 

 


Meeting: 22/11/2021 - Economy Regeneration & Housing Committee (Item 57)

57 Exmouth Street, Seamus O'Donnells pdf icon PDF 87 KB

Additional documents:

Minutes:

The Assistant Chief Executive introduced a  report on behalf of the Director of Regeneration and Place, which sought approval for a recommendation to be made to Policy and Resources Committee to dispose of the Council’s freehold interest in land at Exmouth Street, Birkenhead  to the existing lessee that holds a ground lease of the site and owns the operational public house which is sited thereon.

 

Councillor Andrew Hodson confirmed he did not have an objection to the sale  in principle, and Councillor Paul Martin queried whether the valuation was recent.

 

Councillor Martin suggested that the current value could be subject to an uplift due to the regeneration work currently being undertaken in Birkenhead and suggested deferring the decision until a valuation could be produced.

 

The Assistant Chief Executive confirmed that it was a recent valuation and remined Members that  the Council  have possession of the site  but only retains freehold interest. The Director of Regeneration and Place also advised Members that Council valuers had given  proper consideration to the freehold value and other comparable information. Members were also asked to note the recent reports by DLUHC regarding the  need for disposal of assets. He also raised  the potential for a backlog should any asset disposal reports be referred back for additional valuations.

 

The Assistant Chief Executive  stated that he would be happy to facilitate a workshop to explain the process of valuation in more detail. He stated that the Council had invited auditors to review land disposal practices and they were found to be appropriate.

 

Councillor David Burgess-Joyce confirmed that assurance was needed and that there should not be a rush to dispose of Assets over the coming months. Councillor Emily Gleaves asked officers if it would be possible to bring three different valuations when presenting asset disposal reports to committee.

 

The Chair, Councillor Tony Jones reminded Members the cost of any  additional valuations would be deducted from the overall sale value. The Director of Regeneration and Place expressed caution and the need to move quickly in regard to asset disposals. He advised that a RICS Registered Valuer ‘red book’ valuation does cost the Council a significant sum and seeking further valuations would be at a cost and may  cause a backlog, however he noted that if further assurance is needed then officers may need to give further consideration to  the process.

 

Resolved –

 

That Policy and Resources Committee be recommended to approve that:

 

(1) The freehold interest of land at Exmouth Street, Birkenhead, (which is held via a ground lease with 56 years unexpired and occupied by an operational public house with a grassed area to one side), be declared surplus to the Council’s requirements; and

 

(2) Authorisation be given to the Director of Law & Governance, in consultation with the Director of Regeneration & Place to dispose the property to the current lessee, JSM Company Group Ltd for a price of £120,000, plus payment of the Council’s legal costs.