Exit Strategy
The Council is not looking to actively trade Regeneration and property within the first 5 years of ownership of any acquired property, however this is flexible if required to meet this strategy’s objectives.
If it is determined that the most prudent action is to sell an individual asset, this will be considered on a case by case basis and will be acted upon in consultation with Executive Members, the S151 officer and the Head of Paid Service.
It is proposed that the majority of investments shall be non – financial investments (properties) and as such will be held as Council Assets. Investments such as SPVs shall be owned through the purchase of shares. It is important to note that there would be early repayment charges if borrowing used to acquire or develop a Regeneration and property was to be repaid before the end of the loan term. However, Public Works Loan Board (PWLB) lending is not secured against property, so would not inhibit the asset being traded during the loan period. An alternative asset could be purchased (& held) with any sale receipt.