Issue - meetings

Background:

This report sought delegated authority for officers, in consultation with the Portfolio Holder for Resources, to complete the variation or surrender/re-grant of the existing Head Lease of Gillingham Business Park, to generate a capital receipt and/or increased revenue. 

The recommendation would release a capital receipt and/or additional revenue income for the Council and would mean that the Head Tenant and its sub tenants would have security of tenure for longer, and would therefore be more likely to invest in the business park, including investment that makes the business park more sustainable.

Reasons:

To facilitate the continued development of Gillingham Business Park by the head lessees and realise a capital receipt and/or additional revenue income.