Summary of Decision
To delegate authority to the Executive Director of Finance and Resources to make minor amendments to the heads of terms (non-financial) as required.
Reasons for Decision
The office building at 20 Orange Street is a Council owned investment asset. It has recently been the subject of a comprehensive refurbishment. The first floor was refurbished to a fully fitted Category A Plus standard. The subject letting has been secured off the back of this refurbishment and will deliver a net annual revenue benefit of circa £0.233m (allowing for mitigation of void costs) for the duration of the lease.