Decision details
Lease of Timber Drying Shed, Spring Gardens Road
Decision Maker: Cllr David Bellotti, Cllr Paul Crossley
Decision status: Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
Grant of lease at less than market value
Decision:
The Cabinet Members agree:
(1) To GRANT a tenancy of the building to The River Regeneration Trust for 16 years at an abated rent of £500pa; and
(2) To REVIEW the abatement every 4 years only to ensure that the Articles of Association remain unchanged from those existing at grant of the lease.
Reasons for the decision:
The purpose for pursuing this approach is that the River Regeneration Trust will be able to increase its capacity to enhance understanding and usage of the river for the benefit of local residents and visitors. The Articles of Association of TRRT and the proposed use of the building fall within the General Consent detailing in 4.2 above.
Alternative options considered:
Disposal of the property on the open market has been considered, but not conducted due to Cabinet Member request to grant a lease to TRRT. Sporadic interest has been received for the property since it become vacant and officers consider that a letting would be achieved.
Publication date: 29/05/2014
Date of decision: 29/05/2014
Effective from: 06/06/2014
Accompanying Documents:
PDF 90 KB