Decision details

Cabinet Member approval sought to enter into a reversionary lease.

1.            That this report be exempt from disclosure by virtue of the Local Government Act 1972, Schedule 12A Part 1, paragraph 3 (as amended), in that it contains information relating to the financial or business affairs of any particular person (including the authority holding that information).

2.            That the Cabinet Member for Finance, Property and Regeneration delegated authority to the Executive Director of Finance and Resources to enter into a reversionary lease with the current tenant for Mandela Way units B, C and D from January 2025 to December 2035, based on the agreed terms. 

Reasons for Decision 

The decision will provide security of an existing income stream to the Council until December 2035.