Decision details

The Cabinet will be asked to approve the disposal of the Council’s freehold interest in 89 Axe Street, Barking, following a competitive marketing exercise.

Further to Minute 131 (16 April 2013), the Leader introduced the report and advised that negotiations had taken place with the preferred bidder in respect of a restrictive covenant against the future development of the site.

Cabinet resolved:

(i)  To approve the disposal of the site at 89 Axe Street, Barking, as shown hatched on the plan at Appendix 1 to the report, to Elim Trust Corporation in the sum of £275,000 on the terms set out in the report; and

(ii)  To agree that the property be sold with the Council having the benefit of an in perpetuity restrictive covenant against future development.