Issue - meetings
Options for Out of District Investment Property
Meeting: 01/10/2025 - Council (Item 36)
36 Options for Out of District Investment Property 
PDF 69 KB
Purpose
To request Council to consider an officer recommendation to dispose of
the out of district property, in accordance with the terms and reasons outlined in the report.
Recommendations
That Council resolves to:
- Approve the property disposal on the terms detailed in the report
- Delegate authority to the Director of Finance, in consultation with the Executive Member for Finance, to approve the final terms of sale including the sale price.
Additional documents:
- Annex A, item 36
PDF 150 KB
- Annex B, item 36
PDF 43 KB
- Webcast for Options for Out of District Investment Property
Minutes:
Councillor Alaric Smith, the Executive Member for Finance, introduced the item and proposed approving the recommendation. He explained that the site was Knight’s Court, which was previously occupied by Oxfordshire County Council. The property team had been working with the commercial real estate company CBRE but limited commercial viability had been identified. Oxford City Council had offered to purchase the site with the view to redeveloping it for affordable housing. The Council was therefore recommended to dispose of the site. The sale would reduce the Council’s revenue costs and generate a capital receipt, which could be used for work such as purchasing temporary accommodation within the district.
Councillor Andy Graham, the Leader of the Council, seconded the recommendation.
Voting record – 40 for, 0 abstentions, 0 against.
Resolved: That Council
- Approved the property disposal on the terms detailed in the report.
Delegated authority to the Director of Finance, in consultation with the Executive Member for Finance, to approve the final terms of sale including the sale price.