Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: February 25, 2026

Purpose:

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