Issue details

Flats in W2 – Exercise of lease break options

Decision Taken: Authority is required to approve the service of break notices in respect of two flats in the Westbourne W2 area.

 

Reason for Decision: The report recommends service of break notices in relation to council held leases of two flats in London W2.  The leases have no further commercial or operational use to the council and exercise of the break options will mitigate the associated lease costs between the break date and expiry date of the leases. The exercise of the break options will mitigate the lease costs between the break date and lease expiry.  This is estimated to be 3 years and a revenue saving of circa £350,000 based on current lease costs.   

Decision type: Non-key

Decision status: Recommendations Approved

Wards affected: Westbourne;

Decision due: 29 Oct 2024 by Executive Director of Finance and Resources

Lead director: Executive Director of Finance and Resources

Contact: Rupert Grass, Consultant, Corporate Property Email: rgrass@westminster.gov.uk.

Decisions