Issued: 17 March 2010
Sale Of St James House Completed
The sale of St James House in Forfar, a former Angus Council office building, has been legally concluded.
The purchasers Deanway Development Limited and AWG Property Limited will take over ownership of the site on 13 April 2010.
The former office site has been vacant since 2007, when council staff were relocated following the opening of the council's Orchardbank campus.
The council will receive £1,510,000 of the £1.8m purchase price on 13 April.
The remaining £300,000 will be put in a deposit account in the joint names of the council and the purchaser until final ground surveys are completed. If no problems are identified in the ground survey the £300k will be paid to the council. If required extraordinary costs of remedying problems with the ground would be met from this sum, with the remainder paid to the council.
Angus Council's Corporate Services convener Mark Salmond said he was delighted that the sale had been legally concluded.
“This has not been the easiest or swiftest property transaction but it has been worth waiting for, with the council achieving the agreed purchase price,” said councillor Salmond.
Notes
Extraordinary costs are defined as costs for works under the St James building which could not have been deduced from any other surveys, for example, ground consolidation works, making safe undermined areas, shafts, wells and mine openings, asbestos removal (not asbestos within the building) and costs relating to the removal of contamination.