Decision

Summary of
Decision
The  Cabinet Member
for Finance and Council Reform has approved the Council’s
pursuing of its application for Landlord’s consent to sub-let
the 11th Floor to the SSHCLG and any related consents as may be
required, and, subject to Landlord’s consent, the sub-letting
of the 11th Floor to the SSHCLG and entry into all necessary legal
documentation in accordance with the Heads of Terms.
The Cabinet Member for Finance and Council
Reform has also delegated to the Executive Director of Finance and
Resources authority to approve on behalf of the Council any further
property asset management applications, agreements, arrangements,
notices, memorandum and consents that may be required in respect of
the 11th Floor.
 
Reasons for
Decision
The letting of the 11th Floor which is deemed
surplus to requirements will deliver a significant income stream as
well as cost savings over the lifetime of the sub-lease.