Decision details

1.         That this report be exempt from disclosure by virtue of the Local Government Act 1972, Schedule 12A, Part 1, paragraph 1, in that it refers to the financial or business affairs of others (including the authority holding that information).

2.         That the Cabinet Member for Finance, Property and Regeneration approves the new letting of floors 1-10 of City Hall for the period and commencing rent per annum as detailed in the report and delegated authority to the Director of Corporate Finance and Property to conclude negotiations, including the legal process, in the best interest of the Council.

3.         That the Cabinet Member for Finance, Property and Regeneration delegated authority to the Director of Corporate Finance and Property to conclude negotiations, including the legal process, on the additional lease to the ground floor area, in the best interest of the Council.

Reasons for Decision 

The new letting of the asset will provide a long-term income stream to the General Fund.