Decision details

The Sub-Committee considered a proposed reversionary lease for a tenant within Thames Tower, Reading.

The Investment Asset Manager summarised the terms of the lease as well as the financial risks and benefits of approving the lease versus re-letting the space.

The Sub-Committee resolved to:

1.     Approve the proposed reversionary lease on the terms set out in the report;

2.     Authorise the Group Head of Assets in consultation with the Chair and Vice-Chair of the Commercial Assets Sub-Committee to agree to any variations to the proposed terms; and

3.     Authorise the Group Head of Corporate Governance to enter into the Lease and any associated legal documentation.