Content

12.1

The
Service Manager introduced the report which recommended the
approval of two 7-year lease agreements to SYAC Ltd company
registration 03121067 and registered charity, charity number:
1125770 of 110 –120 Wicker Sheffield, S3 8JD under the
Councils Community Asset Transfer Policy. One lease related to
SYAC’s operational building and the other for a nearby car
park on Sheldon Row, both of which were subject to a 20-year lease
which expired on 9th March 2025.

 

 

12.2

RESOLVED UNANIMOUSLY: That the Finance and
Performance Policy Committee:-
 
a)   
A renewal Lease by reference to the previous Lease of 110 –
120 Wicker, Sheffield (the site of SYAC’s building) for a
period of 7 years from completion.
b)   
A renewal Lease by reference to the previous Lease of the carpark
on Sheldon Row, Sheffield for a period of 7 years from
completion.
c)   
Both leases to be contracted out of the security provisions of the
Landlord and Tenant Act 1954.

 

 

12.3

Reasons for Decision

 

 

12.3.1

SYAC
 
The
granting of the leases recommended in this report will regularise
SYAC’s position in relation to the car park on Windrush Way
and their operational building, with the intention being to
progress discussions to agree a long lease agreement in relation to
the building though the Councils Community Asset Transfer
Policy.

 

 

12.3.2

Sheffield Technology Parks
 
·      
Provides STP with long-term security to invest in major building
upgrades, including energy-efficient systems and infrastructure
needed to meet sustainability goals.
·      
Encourages external investors, tenants, and partners to commit to
STP with confidence, enhancing Sheffield’s reputation as a
hub for innovation.
·      
Enables STP to play a long-term role in city-wide projects like the
Sheffield Innovation Spine, contributing to Sheffield’s
long-term economic strategy.
·      
Reduces administrative burden and ensures STP’s contribution
to Sheffield’s tech sector for decades.
·      
Increase in net current value of the Council’s asset as STP
invests in the infrastructure.

 

 

12.4

Alternatives Considered and Rejected

 

 

12.4.1

SYAC
 
Do
nothing. However, the site buildings considered for lease as part
of this report have been included in the list of potential
Community Asset Transfers (CAT) / being considered as part of the
Community Buildings Pilot, which was carried out in association
with the development of a Community Asset Transfer Policy and
community buildings review.
 
If the
‘do nothing’ option is implemented then the Community
organisations that wish to operate out of these buildings would
have no formal agreement for their use, and therefore they would
not be able to secure suitable funding or implement a suitable
programme for the building repair and maintenance works that are
required.

 

 

12.4.2

Sheffield Technology Parks
 
Grant a
new lease of similar term to existing (20 years):
 

·      
Limits STP’s ability to make long-term investments,
especially in high-cost, long-term capital projects which require a
longer return on investment.

·      
Reduces confidence for external investors, tenants, and partners
who prefer longer term stability.

·      
Reintroduces lease renewal uncertainty relatively quickly,
resulting in ongoing administrative and negotiation costs for both
the Council and STP.

·      
Potentially hinders Sheffield’s ability to fully realise the
benefits of innovation and business growth driven by STP