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V28-59 : 3 COOKE ROAD SOUTH LOWESTOFT INDUSTRIAL ESTATE

SALE OF FREEHOLD

The report of the Director of Central Services provided further information on the sale of the above property which was deferred at minute V27-1446.

The lessees wished to redevelop the site in order to attract suitable occupiers adding to the general enhancements of the Industrial Estate and providing local employment. In order to arrange the necessary funding they needed to own the freehold and be able to offer security for the loan facility.

The tenant had offered to purchase the freehold for the sum on £75,000, which was considered to be consistent with market rates.

RESOLVED

That the freehold for 3 Cooke Road, South Lowestoft Industrial Estate, be sold for the sum of £75,000.


Volume 28 Minute 59

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