Decision details

To approve the sale of the land and buildings at 39, 39.5, 40, 40a and 42 Castle Street and 53 Quarry Street, Guildford in line with the following terms and conditions:

Freehold to be sold at Savills auction.

The assets do not pass the Council’s investment criteria and are subject to ongoing repair liability and limited reletting prospects without considerable capital expenditure.

In accordance with the Council’s General Disposal Consent powers, the proposed disposal is to be by way of public auction with the guide and reserve prices to be set in advance which will provide the ‘best consideration reasonably obtainable’.

Each party will bear their own costs in relation to the sale.

In accordance with best estate management practice.

Alternative options including disposal of the properties to the Housing Revenue Account (HRA) and the obtainment of planning consent for conversion to residential use were considered and rejected when making the decision to dispose, for reasons set out above. The decision to dispose by public auction therefore meets the statutory and policy requirements for the Council and there were no alternative options available.

Council’s 21/7/2023 Constitution Part 3, Page 3-62 Para 3