Councillors yesterday received an update on the sale of Shire Hall, Cambridge.
Taking on board feedback and lessons learned from an earlier bid, an exclusivity period was set for early October. We have been working with the preferred bidder, as we complete our due diligence on their bid. This exclusivity period has now passed.
We are aware of the strong continued interest in this prime Cambridge location and we are committed to achieving the best possible outcome for the building, local residents and Cambridgeshire taxpayers. Rather than extend the exclusivity period we have chosen to discuss our next steps with all the previously shortlisted bidders as we look to achieve, what is known as ‘best consideration’.
Our Assets & Procurement Committee will receive another update on the sale of the Castle Hill site at its winter session. We remain optimistic that a sale will be agreed soon.
