Decision

Exemption from publication: There are confidential appendices to this report, which are exempt by virtue of paragraph 3 of Schedule 12A of Part 1 of Schedule 12a of the Local Government Act 1972 because they contain information relating to the financial or business affairs of any person (including the authority holding that information).

To enter Deed of Variation

Reasons for the decision

Decision rationale: To vary the terms of the sub lease granted by the Council to clarify the Reinstatement and Insurance Proceeds provisions so that the sub lease reflects the appropriate clauses within the associated Head Lease granted to the Council

Alternative options considered

Alternative Option Considered:
Do nothing – do not vary the sub lease.

Benefit:
No change. The sub lease works and can continue in its current form.

Disbenefit:
Provision in regards Reinstatement and Insurance Proceeds does currently exist within sub lease. This is a reasonable request by Tenant to clarify the position and avoids confusion/dispute at a later stage.