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Decision details
Commercial Property Lease
Decision Maker: Cabinet, Full Council
Decision status: For Determination
Is Key decision?: Yes
Is subject to call in?: No
Purpose:
Agreement for new lease
Decisions:
Councillor Forward proposed a motion for the exclusion of the public from the meeting, seconded by Councillor Fitzgerald.
RESOLVED that the public be excluded from the meeting during the consideration of the items of business listed below because it is likely that if members of the public were present there would be disclosure to them of “exempt” information as defined in the paragraphs of schedule 12A to the Local Government Act 1972 referred to in the relevant report.
The live stream was ended and the meeting proceeded in private session.
The Assistant Director, Financial Services and Revenues, presented a report to seek approval to enter into a new commercial property lease.
Councillor Chowney proposed approval of the recommendations, seconded by Councillor Forward.
RESOLVED (unanimously):
To enter into a new lease with the company on the heads of terms outlined in the report.
Reasons:The company has entered into a Company Voluntary Arrangement (CVA), its existing lease expires within 12 months, and it is considered financially beneficial for the Council to enter into a new lease arrangement with the company that provides longer term benefits, and greater security - rather than seek a new tenant.
Cabinet approval is required under financial rules given the high value of the lease. (The Chair declared the meeting closed at 6.26pm)Report author: Peter Grace
Publication date: 08/12/2020
Date of decision: 07/12/2020
Decided at meeting: 07/12/2020 - Cabinet
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