Property Disposal - Stockton House 73-75 William Street, East Sydney

Decision Maker: Council

Decision status: Recommendations Determined



It is resolved that:

(A)        Council endorse the sale of Stockton House, 73-75 William Street, East Sydney;

(B)        Council endorse the proceeds from the sale being placed in the Commercial Properties Reserve to allow for future reinvestment in commercial property, further supplementing the City's non-rate-based income; and

authority be delegated to the Chief Executive Officer to develop due diligence material including, but not limited to, a disposal plan, implementing opportunities to leverage value, determining the optimum method of sale, negotiating with interested parties as required and entering into all necessary documentation to effect the sale at a price to be supported by at least two independent valuations.

Report author: Matthew Taylor

Publication date: 19/11/2018

Date of decision: 19/11/2018

Decided at meeting: 19/11/2018 - Council

Accompanying Documents: