Issue - meetings
Renewal of Lease at Northbank House
Meeting: 09/06/2020 - Cabinet (Item 9)
9 Renewal of Lease at Northbank House 
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Additional documents:
Minutes:
Background:
This report provided details of a proposal to renew the lease and grant agreement in respect of Northbank House on the Medway City Estate. The original lease was granted from 30 December 1996 for a term of 10 years, which expired on 29 December 2006. Subsequent leases had been granted with the last 7 year lease granted on 30 September 2013 and expiring on 1 October 2020. The report provided details of the benefits that IPS International Ltd, the lessee, had delivered in Medway.
An exempt appendix provided further information in respect of the financial and legal analysis of the renewal of the lease of Northbank House.
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Decision number: |
Decision: |
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65/2020 |
The Cabinet agree to delegate authority to the Chief Legal Officer, in consultation with the Portfolio Holder for Resources to: |
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(i) |
serve any necessary notices, to take a surrender of the current lease and to grant a new lease or leases and any necessary supplementary agreement(s) in respect of Northbank House. |
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(ii) |
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 the tenant to continue to deliver training services for the benefit of the area.