Item 10 - Sale of 53A George St. Bonhill
West Dunbartonshire Council · 7 February 2024
Back to Infrastructure, Regeneration & Economic Development Committee — 7 February 2024 and its agenda
Text extracted from the council's PDF. Layout and reading order may differ from the original.
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WEST DUNBARTONSHIRE COUNCIL Report by Chief Officer: Resources Infrastructure Regeneration and Economic Development Committee: 7 February 2024 ___________________________________________________________________ Subject : Sale of 53A George Street, Bonhill G83 9JQ 1. Purpose 1.1 The purpose of this report is to seek Committee approval for West Dunbartonshire Council (the Council) to dispose of 53A George Street, Bonhill (the property) to Sava Estates Ltd. 2. Recommendations 2.1 It is recommended that the Committee: (i) Approves the disposal of 53A George Street to Sava Estates Ltd. for £27,601. (ii) Authorises the Chief Officer Resources to conclude negotiations. (iii) Authorises the Chief Officer Regulatory and Regeneration to conclude the transaction on such conditions as considered appropriate. 3. Background 3.1 The property was previously let to an artist who used the property as a studio until May 2023. 3.2 An operational decision was taken to market the property for sale rather than lease as the Council do not own any adjoining properties. 4. Main Issues 4.1 The property is wholly owned by the Council and is currently unused and surplus to the requirements of any Council service. 4.2 The property was extensively marketed For Sale during October and November 2023. Marketing details were prepared (Appendix 1). 4.3 The property’s availability was listed on the Council’s website and social media and also on the main commercial property marketing websites. Details were also circulated to commercial property agents, local solicitors, and business development bodies. ITEM 10
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4.4 A closing date was set for receipt of informal offers of 6 December 2023. Five offers were received ranging from £10,000 to £27,601 with Sava Estates Ltd. submitting the highest offer. 4.5 The offer from Sava Estates Ltd. is subject only to standard commercial conditions. It is currently unknown what the future intended use of the property will be. 4.6 It is anticipated that the transaction will settle prior to 31 March 2024. 5. People Implications 5.1 There are no significant people implications other than the resources required by legal services and asset management to negotiate missives and conclude the transaction. 6. Financial and Procurement Implications 6.1 The Council will benefit from a capital receipt of £27,601 and no longer have to incur revenue costs for managing and maintaining the property including utility costs. 6.2 There are no procurement implications arising from this report. 7. Risk Analysis 7.1 The disposal is subject to legal due diligence. There is a risk of the sale not proceeding due to any emerging issues during the due diligence process. This is standard for any disposal transaction. 8. Environmental Sustainability 8.1 Any redevelopment or refurbishment of the property will require to be in line with current building standards. 9. Equalities Impact Assessment (EIA) 9.1 An Equality Impact Assessment is not applicable for the purpose of this report. 10. Consultation 10.1 Consultations have been undertaken with Finance, Regulatory Services and Planning.
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11. Strategic Assessment 11.1 By agreeing to this proposal this will be contributing to the Council’s strategic priority for a strong local economy and improved job opportunities. Laurence Slavin Chief Officer: Resources Date: 8 January 2024 Person to Contact: Michelle Lynn, Asset Coordinator. Email: michelle.lynn@west-dunbarton.gov.uk J David Johnston, Estates Surveyor. Email: david.johnston2@west-dunbarton.gov.uk Appendices: Appendix 1 – Marketing Details. Background Papers: None Wards Affected: Ward 2