Town Hall leaders in Warrington are on the verge of giving the green light to selling one of the council’s ‘investment properties’.
A detailed report on this matter will be presented to the cabinet during their meeting on Monday, December 9. The report will outline an offer for ‘one of the council’s investment properties’ and will request approval for the property’s sale.
The primary reason behind the proposed sale is to support economic regeneration, growth, and to generate financial capital for the council. According to the report, a private investor approached the council in November 2024 expressing interest in one of their investment properties.
Negotiations have been informed by a thorough assessment of the property’s value, which included an independent valuation report. The potential buyer has already begun the due diligence process in anticipation of a decision by the cabinet regarding the sale.
Although the details of the proposal are contained in a confidential Part Two report, it is mentioned that the sale is expected to yield a capital receipt that far exceeds the initial purchase price of the property. This capital receipt could potentially be utilized to reduce the council’s debt burden.
The cabinet is being advised to approve the sale of the property based on the terms outlined in the Part Two report. While the specifics of the proposal remain undisclosed to the public, it is evident that the council is considering this sale as a strategic financial move to benefit the local community.
In addition to the economic implications of this sale, it is worth noting that the decision-making process involved in such transactions is crucial for maintaining transparency and accountability within local governance. By deliberating on the best course of action for this investment property, the council is demonstrating its commitment to responsible financial management and long-term planning for the benefit of Warrington residents.
Overall, the approval of the sale of this investment property signifies a significant development in the council’s financial strategy and its efforts to leverage assets for the greater good of the community. As the details of the sale unfold, it will be interesting to see how this decision contributes to the council’s broader objectives and priorities in the coming years.
