Proposal for a Seafront letting which over the term of the 25 year lease exceeds the £1m threshold and requires a Cabinet decision.

That Cabinet agrees to grant a new 25-year lease to a new company set up by the existing tenant for the reinstatement and operation of the Brighton Wheel on its former site at Madeira Drive, subject to planning permissions, statutory consents, matters referred to in this Part 1 report and the lease terms and matters set out in the Part 2 report.
That Cabinet delegates authority to the Corporate Director City Operations in consultation with the Director Property & Finance and Cabinet Member for Economy, Culture, Heritage and Tourism to finalise and enter into all necessary legal agreements and associated lease documentation required to implement the proposal.