Decision details

Acquisition of the Long Leasehold Interest in 37-39 Imperial Way as a Commercial Investment

Decision Maker: Cabinet Member for Finance & Resources

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:

RESOLVED: To

 

1.    Agree that pursuant to the Asset Investment Strategy contained within Medium Term Financial Strategy approved by Full Council on the 8 October 2018 the Council purchases the long leasehold interest in the Selco unit at 37-39 Imperial Way on the terms detailed in the report.

 

2.    Agrees that, for the reasons detailed in paragraph 3.8 of the Part B Report, the Executive Director (Resources) be given delegated authority, acting in consultation with the Cabinet Member for Finance and Resources, to make any amendments to the terms of the acquisition of the long leasehold interest considered necessary after the decision has been made.

 

3.    Note that where any significant amendments are made under this delegation, the amended terms for the acquisition of the long leasehold interest for 37-39 Imperial Way will be published on the Council’s website within 1 month of completion of completion of the lease.

Reasons for the decision:

Are contained within the attached Part A report.

Alternative options considered:

Are contained within the attached Part A report.

Interests and Nature of Interests Declared:

None.

Publication date: 04/12/2019

Date of decision: 03/12/2019

Accompanying Documents: