Purpose

To
seek Cabinet approval to delegated to the Executive Director of Place to
approve lease transactions following marketing of four County Farms, where the
aggregate rental value of the lease exceeds £500,000 in any one transaction.

Content

That authority be delegated to the Executive Director of
Place to grant Farm Business Tenancies (FBTs) with an aggregate rental value
exceeding £500,000, including those for the four farms currently being relet as
well as any future re-lettings, following consultation with the Cabinet Member
for Property & Assets and Economic Growth and the S151 Officer, on terms to
be agreed.

 

Reason for the decision

 

To enable a responsive and efficient approach to granting
Progression Farm FBTs, where contractual terms were typically 20–25 years and
market rents meant the aggregate rental value routinely exceeds £500,000.

 

This delegation ensured alignment with the Farms Estate
Strategy.