Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: January 19, 2026

Purpose:

Content: 11.1 The Assistant Director of Property and Chief Property Officer introduced the report which updated the Committee on a proposed revision to the commercial terms.     11.2 RESOLVED UNANIMOUSLY: That the Finance and Performance Policy Committee:-   a)    Note the current position and endorse the granting of a lease including the revised terms as set out in this report.     11.3 Reasons for Decision     11.3.1 The proposed variation to the lease terms will allow the lease to finally be completed and rent to be collected.     11.4 Alternatives Considered and Rejected     11.4.1 Do nothing.   To do nothing is not considered a realistic option as the Council is currently not receiving rental income from the use of the land and the occupation by TNBCo requires formalising.     11.4.2 Withdraw the offer of a lease and seek to take back possession of the site.   This does remain an option for the Council. TNBCo has previously threatened to bring a legal action against the Council to recoup the costs of past investment. There is no detail of the basis of any claim by the new company and how it would recover money spent by the dissolved company.