ERYC have informed me that the demolished garages on Saxon Road, Stamford Bridge will not be rebuilt.
ERYC have stated:
” …… it was determined that the cost to rebuild the garages at Saxon Road was too high and did not represent value for money. We are now looking to tender the works to provide marked parking bays with lockable bollards on the site so that we can rent these out to former garage tenants and others on the garage waiting list. I am still seeking a contribution to the cost of these works from insurers as well as to the costs already incurred by us to demolish the garages and make the area safe. However, these negotiations won’t commence in earnest until we have the tendered price for the works. In the meantime, I’ve asked (Officer A) in Housing Services to write to the former tenants of the garages and inform them of this update and gauge their interest in renting one of the new parking bays.”
Capital Assets Underinsured
This clearly demonstrates that ERYC do not have capital assets fully insured. This exposes the authority to a massive risk of captial asset loss.
I believe all ERYC capital assets must be adequately insured as without we could lose £Millions of assets.
I believe these garages must be rebuilt. I have requested ERYC to revisit their decision and also inform all Councillors how many £Millions we are under insured for.