Decision details
Commercial Estate Planned Maintenance Upgrades
Decision Maker: Executive Director - Resources
Decision status: Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
Purpose: As part of the Commercial Estate
Team's commitment to provide resilient net income for the Council,
this programme complies with the Council's legal obligations as
landlord as well as providing investment to upgrade and future
proof the portfolio of commercial properties. This will revitalise
the city centre and protect the listed status of these
buildings.
Decision:
Decision: To approve capital budget up to the
value of £1 million for upgrading of commercial properties in
addition to planned maintenance and to be funded by £645k
from the provisional capital programme for commercial estate
planned maintenance and £355k from third party
contributions.
Alternative options considered:
Alternative options considered: The
alternative is to do nothing. However, if the works are not
completed, the Council's commercial portfolio with deteriorate
further and this will adversely affect the value of the Council's
assets, lose rental income for vital Council services and lessen
visitor’s impressions of key areas of the city centre.
Publication date: 08/11/2024
Date of decision: 08/11/2024
Accompanying Documents:
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