Issue - meetings

This report provides details of a land and property transaction over £500,000 in respect of the Cabinet’s decision on 9 August 2016 relating to the Pentagon Centre and Mountbatten House.

This report is submitted for Members’ information.

Discussion:

This report provided details of a land and property transaction over £500,000 in respect of the Cabinet’s decision on 9 August 2016 relating to the Pentagon Centre and Mountbatten House, Chatham.

This report complied with the constitutional requirement that land and property transactions over £500,000 be reported to the next Council meeting for information.

The Portfolio Holder for Resources, Councillor Gulvin, supported by the Leader of the Council, Councillor Jarrett, proposed the recommendation in the report.

Decision:

The Council noted the report.

Background

This report sought delegated authority for officers to complete the variation or surrender/re-grant of the existing head lease of the Pentagon Centre in order to facilitate improvement of the shopping centre and the development of Mountbatten House.

Consultation had taken place with officers from the Regeneration,

Culture Environment and Transformation Directorate and no objections had been received.

Reasons

In order to facilitate the development of the Pentagon Centre and Mountbatten House and realise a capital receipt.