The sale of a council-owned commercial property in Burley Street has moved a step closer to reality, according to council documents.
As previously reported by WLD, Leeds City Council is looking to sell the three-storey building at 18-22 Burley Street which is split into three commercial units, all of which are currently let.
The property has a guide price of £800,000 and the council has this week drawn up a shortlist of preferred bidders – although the identity of the interested parties has not been revealed by the council.
A council report – which can be read in full here – says all tenants are aware of the council’s intention to sell the site to raise much-needed funds for the local authority. The report adds the site has redevelopment potential for purpose-built student accommodation, although Hyde Park and Woodhouse councillors and some local residents are against this.
The report adds:
“The site is surplus to council requirements and no operational reason has been identified to justify its retention. In these circumstances, its disposal represents prudent and economic asset management, obviating holding costs associated with managing the property and therefore supports the best value objective of the council.
“There is backlog of repairs and by disposing of the property, the council will avoid the costs as well as any future maintenance responsibility.”
The building dates back to 1910.
West Leeds Dispatch‘s Cutswatch series has been following proposed council budget cuts and economies here.