Decision details

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

Purpose:

Commercial Property Tenant Lease Variation

Decision:

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

Accompanying Documents: