Southwark Cabinet approves plan to buy 160 Tooley Street

Wed 12th December 2012, 10:08 am

At a Cabinet meeting on Tuesday 12 December, Southwark’s cabinet approved of the council’s plan to purchase their current head office at 160 Tooley Street after it was announced in November that the building was put up for sale.

On Monday 4 December, councillor Richard Livingstone confirmed during another council meeting that an offer was made to purchase the property.

The cabinet has now approved of all recommendations made by the council, including:

- in principle approval of the acquisition of the freehold interest in the property, and;
- delegating to the chief executive, director of finance and head of property the authority to negotiate terms, final bid and financing structure.

Southwark’s head of property Jeremy Pilgrim was not available for any comment other than confirming that negotiations were still taking place, and that further details would be released to the public in due course.

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