Decision details

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.