Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To seek approval of a number of forthcoming leases with a value of over £250,000 (over the term) to the Corporate Director of Place, pursuant to the Council’s Scheme of Approval and Delegation for Financial Transactions.
RESOLVED: That the Corporate Director of Place, following consultation with the Portfolio Holder for Business, Employment & Property, be authorised to finalise and agree the terms to enter into the nine leases listed in the confidential Appendix 1 to the officer report which were or would be at market value and would have a total value (over the term) of more than £250,000.
Reason for Decision: The leases specified in the confidential Appendix 1 contributed to the budgeted income stream which the commercial property portfolio generated by way of the collection of rent. The buildings were either currently occupied by the tenants (and had been for several years) and their leases were being renewed, or the spaces were under offer to tenants following a period of open marketing.
Report author: Corporate Director Place
Publication date: 18/11/2022
Date of decision: 17/11/2022
Decided at meeting: 17/11/2022 - Cabinet
Effective from: 26/11/2022