Purpose

To approve the development of a site within The Talbot Gateway (Central Business District) as grade ‘A’ office accommodation and to authorise the execution of the Contracts necessary to facilitate this Development.

This report updates EX25/2021, the ONKD of 27th September 2021 and the ONKD of 1st December 2022.

Decision

To authorise the Head of Legal Services to enter into a Deed of Variation to the Agreement for Lease to amend the Agreement for Lease and Lease with the Department for Work and Pensions and subsequently grant the Lease with them for the proposed office on King Street.

To authorise the Head of Legal of Services to enter into a Lease with Electricity North West Limited in accordance with the Heads of Terms appended and with a redevelopment lift and shift clause.

To authorise the Head of Legal to prepare legal documentation and enter into and complete appropriate documents/contracts as necessary to complete the transactions after due diligence is completed.