Decision Details

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Details

Status:
Implemented
Title:
Surrender and re-grant of lease for Priory and Cannon House
Include item on Forward Plan/ Key Decision
No
Reference:
007652/2020
Urgent Decision - Not in Forward Plan
No
Details for Agenda Sheet

Report of Interim Director, Inclusive Growth
Report of Interim Chief Finance Officer
Report of Interim City Solicitor

Implementation Date (not before meeting on)
Tue 24 Mar 2020
Purpose

This report seeks authorisation to surrender an existing long lease for Priory and Cannon House and grant a new longer lease in exchange for a premium paid to the Council.

The new lease will be granted to the same tenant, Railway Pension Nominees Limited on the terms set out in exempt Appendix 2b. The main change will be an extension of its remaining length from 120 years to 250 years remaining.

Key Portfolio
Leader
Decision Maker
Cabinet Member and Chief Officer
Chief Officer Decision Maker
Reason For Key Decision
Relevant Documents
Decision Type:
Portfolio
Decision Maker:
Councillor Ian Ward
Directorate
Inclusive Growth
Other Information
Private Reason
Decision Outcome

On the 24 March 2020, the Leader and Cabinet Member for Finance and resources:

1.   Approved a surrender and regrant of the lease for Priory-Cannon House to the same tenant, Railway Pension Nominees Limited, on the terms set out in exempt Appendix 2b to the report; and

2.   Authorised the City Solicitor to negotiate, execute and complete all necessary legal documents to give effect to the transaction.

 

NB:  THE DEADLINE FOR CALL IN IS FRIDAY 27 MARCH 2020 AT 1600 HOURS

Is the Decision Maker Aware of the Decision:
No
Is the Head of Services Aware of the Decision:
No
Is Decision County Wide:
No
Would the recommended decision be contrary to the budget and policy framework:
No
Decision Options:

Additional Information

Reg 10
Reg 11

Decision Criteria

This Decision does not contain any decision criteria records.

Wards

Ladywood

Topics

This Decision does not contain any Topic records

Overview and Scrutiny

Economy and Skills Overview and Scrutiny Committee
Resources Overview and Scrutiny Committee

This section allows you to view the reports for the Decision.

Reports

  1. pdf Priory Cannon Exec Report format v11 (112Kb)
    1. pdf Appendix 1 site plan (3525Kb)
    2. pdf Appendix 3 Equality Assessment (382Kb)
    3. pdf Appendix 4 - Investment Decision Matrix (106Kb)
    4. pdf Exempt Appendix 2 cover sheet - Private Report
    5. pdf Exempt Appendix 2a Recommendation Report - Private Report
    6. pdf Exempt Appendix 2b - Lease information - Private Report

This section displays the history of the Decision.

Decision History

Date & Time CreatedUser Full NameStatus DescriptionDetails
12
 Page 1 of 2, items 1 to 10 of 12.
23/03/2020 17:22:26Wendy HillBusiness Item Created 
23/03/2020 17:23:31Wendy HillWard AddedLadywood
23/03/2020 17:24:14Wendy HillOS Committee AddedEconomy and Skills Overview and Scrutiny Committee
23/03/2020 17:24:14Wendy HillOS Committee AddedResources Overview and Scrutiny Committee
23/03/2020 17:24:49Wendy HillContacts Edited 
23/03/2020 17:25:12Wendy HillCommittee AddedCabinet Member and Chief Officer
23/03/2020 17:25:25Wendy HillMeeting Added24/03/2020 12:00AM
23/03/2020 17:26:51Wendy HillReport AddedDocument ID 170677: Priory Cannon Exec Report format v11
23/03/2020 17:35:45Wendy HillStatus ChangedDecision Proposed [2]
23/03/2020 17:36:15Wendy HillGeneral Details Edited 

Approval/Comments

No history found.