Decision Maker: Head of Strategic Finance and Property
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
To seek delegated authority for the grant of a
new lease to Alcohols Ltd on terms outlined in the attached report
that are compatible with the timetable for the redevelopment of Old
River Lane and to pay the statutory compensation to the
Tenant.
Head of Strategic Finance and Property acting
under authority delegated within Part 3c, paragraph 13.15 of the
council’s Constitution ‘has decided to: approve the
grant of a new 3 year lease to Alcohols on the terms outlined in
the attached report and to approve the payment of the statutory
compensation of £122,000 plus any additional compensation as
detailed in the report that becomes payable when the new lease is
terminated by the Council.
Option 1 - To allow the matter to proceed to
court but at risk of a decision in favour of the Tenant and
incurring further cost for the Council.
Option 2 - Agreeing acceptable terms outside court to give the
Council certainty on timings to achieve vacant possession of the
building while also maintaining rental income and reducing
outgoings for the Council.
Publication date: 31/01/2022
Date of decision: 19/01/2022
Accompanying Documents: