Decision details

An update on the British Land proposals for Royal Victoria Place.

Part of this meeting may be held in private in accordance with Section 100A(4) of the Local Government Act 1972 (as amended) by virtue of paragraph 3 of Schedule 12A of the Act.

RESOLVED –

1.    That the contractual obligation on the council as the freeholder of the long leasehold interest between the Council and British Land consent to the proposed mall refresh refurbishment works and to contribute to the full cost of such works as provided for under the terms of the lease be noted; and

2.    That the Head of Economic Development and Property in consultation with the Monitoring Officer, the Director of Finance, Policy and Development, the Portfolio Holder for Finance and Governance and the Portfolio Holder for Property, Major Projects and Strategic Engagement be delegated authority to:

a.    Complete of all necessary negotiations, legal documentation and legal formalities and to appoint external solicitors to deal with such matters as considered appropriate; and

b.    Make all proven and necessary payments to ensure compliance with the lease obligations in relation to the identified Type 1 Qualifying Refurbishment works.

REASON FOR DECISION:

To allow the refurbishment works at Royal Victoria Place Shopping Centre to be taken forward.