Issue - meetings

Renewal of Lease at Northbank House

 

 

Meeting: 12/03/2013 - Cabinet (Item 11)

11 Renewal of Lease at Northbank House pdf icon PDF 118 KB

Minutes:

Background:

 

This report presented details of a proposal to renew the lease and grant agreement in respect of Northbank House on the Medway City Estate. Northbank House had been leased to IPS International Ltd since December 2006. The report set out the role of IPS International Ltd including the delivery of training for over 900 Medway people employed in more than 150 companies.

 

It was proposed that the General Disposal Consent be used, so that the rent charged for the property could be at less than best consideration, on the grounds that the use of the property for a training facility which had social and economic benefits for the Medway area.

 

An exempt appendix provided key information in respect of the financial and legal implications arising from the proposal.

 

Decision number:

Decision:

73/2013

The Cabinet agreed to grant delegated authority to the Assistant Director of Legal & Corporate Services, in consultation with the Portfolio Holder for Finance, to;

(i)                 To serve any necessary notices, to take a surrender of the current lease and to grant a new lease and any necessary supplementary agreement(s) in respect of Northbank House;

(ii)               To use the 2003 consent order, so that the property can be let at less than best consideration.

 

Reasons:

 

To maintain the Council’s income flow from the property.

 

To help IPS International to continue to deliver training services for the benefit of the area.