Decision

Approved Completion of purchase and leaseback of part Nicholsons Walk Shopping Centre

Reasons for the decision

Under the terms of the Compulsory Purchaser Order Indemnity Agreement between the Council and Denhead SARL the Council is to use its appropriation powers to assist the land assembly and a removal of third party rights across the entire area required for Nicholson Quarter Regeneration Scheme. This requires the Council to acquire an interest in the land that is currently owned by Denhead. Following the acquisition a 999 year peppercorn lease is to be granted to Denhead that allows Denhead to re-purchase the freehold for £1 at a later date.

Alternative options considered

None