Decision details
Bath Quays South
Decision Maker: Director of Regeneration & Housing
Decision status: Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
Decision notices E2991 & E3085 approved the release of
Commercial Estate Investment to secure delivery of new Grade A
office accommodation at No.1 Bath Quays and for the Council to
deliver the project to achieve regeneration benefits as well as
revenue for the Council. The Decisions recognised that the revenue
is needed to help the Council fund essential services whilst
achieving its financial targets.
In recent years there has been an objective to rebalance the
commercial estate portfolio with good quality office and industrial
assets to reduce the reliance on the retail sector. This has been
the premise underpinning the delivery of the new offices at No.1
BQS.
Decision:
In connection with the marketing of No.1 Bath Quays South:
• Approve the letting to a Tenant of the 4th floor of No.1
Bath Quays South; the terms of which are in line with or exceed the
internal business case approved by Decisions E2991 and E3085.
• Approve the appointment of external solicitors to prepare
and negotiate the terms of the Agreement for Lease and Lease
between the parties.
Alternative options considered:
N/A
Publication date: 11/05/2022
Date of decision: 10/05/2022