Issue - meetings

The long leaseholders of a Council-owned property in Farnham have served a noticeon the Council under the Leasehold Reform Act 1967 (“the 1967 Act”) to purchase the freehold of the house and premises.  Leaseholders have a legal right under the 1967 Act to buy the freehold of their house if they meet certain qualifying criteria. If the leaseholder qualifies under the 1967 Act and follows the correct procedure they can force the freehold owner to sell them the freehold.

The purpose of this report is to seek Council approval to sell the freehold to the current leaseholders on the terms set out in the Exempt Annexe 1.

Recommendation

That subject to the observations of the Value for Money & Customer Services Overview and Scrutiny Committee, the Executive approves the recommendation to follow Option 1 which is the sale of the freehold land on the terms set out in Exempt Annexe 1.

90.1     The Leader introduced the proposal to sell the freehold of a council-owned property in Farnham. The long leaseholders had served a notice on the Council under the Leasehold Reform Act 1967 to purchase the freehold of the house and premises. Leaseholders had a legal right under the 1967 Act to buy the freehold of their house if they submitted a qualifying application and followed the correct procedure.

90.2     The proposal had been reviewed by the Value for Money and Customer Service Overview & Scrutiny Committee, which had endorsed the recommended action.

90.3     Having considered the comments of the Value for Money and Customer Service Overview & Scrutiny Committee, the Executive RESOLVED to approve the sale of the freehold of the land, on the terms set out in the Exempt Annexe 1.

[Reason: to satisfy the requirements of the Notice served on the Council under the Leasehold Reform Act 1967 to purchase the freehold of the house and premises.]