Issue - meetings

 Committee is asked to recommend to Council:

1.     Approval of the Heads of Terms for the Council to enter into an Agreement for Lease with the proposed tenant for the Waterfront Site, Bridge Street, Staines-upon-Thames to facilitate the delivery of a new hotel led regeneration on this prime riverside site.

2.      Delegate authority to the Chief Finance Officer in consultation with the Leader to agree any minor variations to the Heads of Terms and the final terms of the Agreement for Lease subject to valuation advice received.

3. Delegate authority to the Group Head of Corporate Governance in consultation with the Leader to finalise and enter into the Agreement for Lease and any other documentation in connection with the grant of the Lease to Arora. 

4.     Note the Local Government Act S.123 ‘best value’ valuation undertaken by Cushman & Wakefield in respect of the proposed terms of this transaction. This is included in Part 2 of the report. 

Appendices 1-3 and 6 of this report are exempt as they contain information within the meaning of Part 1 of Schedule 12A to the Local Government Act 1972, as amended by the Local Government (Access to Information) Act 1985 and by the Local Government (Access to Information) (Variation) Order 2006 Paragraph 3 – Information relating to the financial or business affairs of any particular person (including the authority holding that information)