Decision details

Variation to Investment Property Leasehold Arrangement (D26-19)

Decision Maker: Deputy Leader & Executive Member for Corporate Strategy and Investment

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

To obtain authorisation to vary the current leasehold arrangement of an investment property.

Decision:

To agree and authorise option 1 and vary the current leasehold arrangement of an investment property as per paragraph 1.7 of the report.

Reasons for the decision:

1.     To secure the continuation of the leasehold interest.

2.     To avoid local impact and capital value impact that a closure would create.

3.     The structure of the lease variation will continue to secure income for the council from this property.

Alternative options considered:

Option 1: Agree and authorise Option 1 and vary the current leasehold arrangement of an investment property as per paragraph 1.7 of the report.

 

Option 2: Do not authorise the variation and risk the tenant closing their doors creating local impact and capital value impact.

 

Publication date: 10/05/2019

Date of decision: 10/05/2019

Effective from: 18/05/2019

Accompanying Documents: