Decision details

(Paragraph 3 – Information relating to the financial or business affairs of any particular person (including the authority holding that information)

The Property and Investment Committee considered an exempt report on property letting ‘K’.

Councillor J. McIlroy, portfolio holder for asset management outlined the proposed terms of the lease and responded to questions on the risks and benefits associated with it.

Alternative options considered and rejected by the Committee:

·         Not to agree the new letting

Resolved to approve the lease on the terms set out in the exempt report in relation to property letting ‘K’.

Reason for Decision:

The property is currently vacant and incurring void costs.  The proposed letting is to a good quality tenant for a minimum of term of seven years.  The terms of the letting are in line with the current valuation and prevailing market conditions.