Commercial Property Tenant Lease Variation: Reference D38/20
Decision Maker: Executive Member for Contract & Assets, Leader of the Council
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Commercial Property Tenant Lease Variation
To approve the lease variations as outlined in the report.
Reasons for the decision:
The proposals provide support to the longevity of this leasehold.
The leasehold provides wider economic and development and regeneration benefits for the locality.
Alternative options considered:
· To approve the lease variations as outlined in appendix 1.
· Not approve the lease variations as outlined in appendix 1. The risk with this option is that the business may not re-open and the prospects of re-letting are poor because it is a large bespoke property and because of the weaker property market following Covid19.
Urgent item?: Yes
Publication date: 24/07/2020
Date of decision: 24/07/2020