Purpose

In
January 2022 the Executive approved a capital investment of
£400k for repairs and to prevent further deterioration of the
income stream for the Grafton Centre. In addition, the Executive
approved an interim asset management strategy that focused on the
following 4 outcomes:
 

·      
The appointment of a Centre Manager

·      
The delivery of an Events Programme

·      
Undertake capital repairs to ensure
compliancy

·      
Maintain existing rental income and seek to increase
income
 
The
Executive also approved the commissioning of a project team to look
at future site options.
 
This
report will provide an update on progress made and a proposal for
the future of the Grafton Centre.

Decision

1)   
That the the progress made since January 2022 be
noted.
2)   
That the proposed future Centre/ Asset Management
Strategy be approved.
3)   
That the future management strategy be
approved.