Issue - meetings

This report asks the Executive to consider what action should be taken to seek a beneficial use for The Bonding Warehouse that will enable the property to be put and remain in a good state of repair.

RESOLVED:             That Option B be approved and an agreement be completed with the tenants of The Bonding Warehouse for a settlement of the claims under the lease agreement and a sale of the premises.

Members received a report which asked them to consider what action should be taken to seek a beneficial use for The Bonding Warehouse that would enable the property to be put and remain in a good state of repair.

The report presented the following options for consideration:

·  Option A – To commence proceedings to forfeit the lease;

·  Option B – To reach a settlement with the tenants.

RESOLVED:             That Option B be approved and an agreement be completed with the tenants of The Bonding Warehouse for a settlement of the claims under the lease agreement and a sale of the premises.

REASON:                  This is the quickest method of ensuring a beneficial use of the premises and should ensure that the Council’s property costs are recovered.