Major decision due on future of West Midlands Police's Birmingham HQ
Crisis-hit Birmingham Council is set to make a decision on the future of West Midlands Police’s headquarters amid plans for more property sales.
A wave of properties and land have been sold since the start of last year amid the authority’s financial turmoil.
More property sales are set to be approved and one involves Lloyd House in Colmore Circus, which is currently the headquarters of West Midlands Police.
A report said the council was seeking authority for the sale of its freehold interest, which comprises the land and building.
It said there were currently two long leasehold interests, both of which were producing a fixed income and due to expire in June 2060.
“Following a sale of the freehold interest, the council will forfeit receipt of rents in exchange for an agreed capital sum,” it said.
The report said the sale would support the council’s financial recovery plan and help it achieve a balanced budget.
On the option of the council doing nothing, it added: “The council is under no obligation to proceed with the proposal and would suffer no reputational consequences if it did not proceed.”
However, it noted that move would not be in line with the council’s recovery efforts.
“The proposed capital receipt would not be realised earlier and would not be available to support the city council’s financial recovery plan,” the report said.
“The council’s income is fixed until the lease expires and this revenue income would continue to be eroded as a result of inflation over the remaining term.”
A council committee was recommended to approve the sale of the council’s freehold interest to an existing leaseholder at a meeting today (August 18).
Plans for more property sales to be considered at the meeting involve assets such as a Victorian cottage in Sutton Park, the site of former swimming baths in Stechford and a ‘core retail asset’ in the city centre.
