Decision Maker: Cabinet Member for Finance and Council Reform
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Summary of Decision
The Cabinet Member has approved the grant of the proposed New Lease and given delegated authority to the Director of Property and Strategic Asset Management to agree minor variations to the terms to enable the agreed final form of legal documentation to be executed and completed.
Reason for Decision
The grant of a New Lease will extend the income stream from the subject investment property and represents best value for the Council when considered alongside prevailing market levels and the need to retain flexibility in possibly obtaining vacant possession in the Summer of 2024.
Publication date: 02/09/2022
Date of decision: 02/09/2022
Effective from: 10/09/2022