Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To approve recommendations for purchase and sale of assets and terms of leases (over £1m – Cabinet decision, under £1m – Cabinet Member decision, in consultation with the Leader)
The Cabinet Member for Business Services and Resident Experience summarised the report and commended it to the Cabinet for endorsement.
RESOLVED:
It is recommended that Surrey County Council grant a new full repairing and insuring lease for a term of 10 years commencing on the 25 December 2016 at the commencing rent per annum, as set out in the submitted report.
Reasons for decisions
The property was acquired in September 2013 for potential longer term service need and to provide a revenue income to the council.
To ensure the income stream can continue until the end of 2021 as a minimum, negotiations have been held with the existing tenant on securing a new lease, without the need for any refurbishment of the property, on market terms.
Report author: Peter Hall
Publication date: 14/07/2016
Date of decision: 14/07/2016
Decided at meeting: 14/07/2016 - Cabinet
Effective from: 22/07/2016