Issue - meetings

Cabinet Member: Finance, Property and Transformation

Forward Plan Ref: 2026/054

Key decision

Contact: Henry White, Operational Manager, Estates and Investment

Henry.white@oxfordshire.gov.uk

Report by Director of Property and Assets (CA16)

The information in the annexes to this report in that it falls within the following prescribed category:

3 Information relating to the financial or business affairs of any particular person (including the authority holding that information)

And since it is considered that, in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

Recommendations approved.

RESOLVED: that the public be excluded for the duration of this item since it is likely that if they were present during that item there would be disclosure of exempt information as defined in Part I of Schedule 12A to the Local Government Act 1972 (as amended) and specified below in relation to those items and since it is considered that, in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information

Cabinet had before it a report on the proposed acquisition of three leases on a property in Oxfordshire to support place shaping and regeneration aligned with its economic ambitions and corporate priorities.

Councillor Dan Levy, Cabinet Member for Finance, Property and Transformation, presented the report. He outlined the financial due diligence undertaken, the expected income return, and the potential for capital appreciation. The acquisition was seen as an opportunity to regenerate a neglected area, improve connectivity, and support the Council's place-shaping ambitions.

Councillor Levy moved and Councillor Leffman seconded the recommendations and they were approved.

RESOLVED to:-

a)    Agree to the acquisition of three leases, on the terms set out in exempt Annex 1 and 2.

b)    Delegate authority to the Deputy Chief Executive and Section 151 Officer, in consultation with the Cabinet Member for Finance, Property and Transformation  to negotiate and agree the final acquisition terms which will be substantially in accordance with the details set out in exempt Annexes 1,2,3,4 and 5.

c)    Delegate authority to the Deputy Chief Executive and Section 151 Officer, in consultation with the Director of Property & Assets and the Director of Law and Governance and Monitoring Officer, to conclude negotiations and complete all necessary legal documentation (subject to the completion of all due diligence exercises) to implement the acquisition.