Issue - meetings
Cults Business Park, Proposed Extension of Expiry Date of Ground Lease - CHI/17/27
Meeting: 06/12/2017 - Finance, Policy and Resources Committee (Item 23)
Cults Business Park, Proposed Extension of Ground Lease - CHI/17/273
Additional documents:
- Restricted enclosure 2 , View reasons restricted (23/2)
Minutes:
The Committee had before it a report by the interim Director of Communities, Housing and Infrastructure which provided details of an application submitted by a commercial tenant to extend the length of ground lease at Cults Business Park, Station Road, Cults.
The report recommended:-
that the Committee –
(a) approve in principle to give the tenant an unexpired lease term of not more than 120 years, subject to a premium to be paid to the Council of the amount detailed within the report exclusive of V.A.T, LBTT and legal costs; and
(b) delegate authority to the Head of Legal & Democratic Services to formally conclude the most appropriate documentation to reflect this on such terms and conditions as are necessary to protect the City Council’s interests.
The Committee resolved:-
to approve the recommendations.