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Decision - Commercial Property Lettings
Brighton and Hove
Cabinet
Decided 18 Jul 2024 · effective 27 Jul 2024
approved
Key decision
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Decision maker
Cabinet
Report author
Jessica Hamilton
Published
19 Jul 2024
Reference
7263
As published
the council's own words, unedited
This report sets out proposals to grant new leases for two commercial properties, one within the Seafront Portfolio and one within the Commercial Property Investment Portfolio.
1) Cabinet agrees to the completion of two commercial leases and delegates authority to the Corporate Director City Services and the Assistant Director Legal and Democratic Services in consultation with the cabinet member to approve terms and take the necessary steps to complete the transactions.
Everything below was read out of a PDF by a model
It is useful and it is not authoritative. The document it came from is linked in the
rail, and where the two disagree the document is right.
The report sought approval to complete leases for the Café Unit at Outdoor Sports Hub, Kingsway, and 3-7 Preston Circus, Brighton. The lettings were expected to secure new rental income, enable occupation and refurbishment, and support the best use of the council’s commercial property assets.
Recommendation
Cabinet agrees to the completion of two commercial leases and delegates authority to the Corporate Director City Services and the Assistant Director Legal and Democratic Services, in consultation with the cabinet member, to approve terms and take the necessary steps to complete the transactions.
Financial impact
The Café Unit at Outdoor Sports Hub will provide new rental income to the authority; agreeing the leases will also transfer operational costs such as Business Rates for 3-7 Preston Circus to the tenant. Remedial works to the Preston Circus property are estimated at approximately £450,000.
Ward affected
West Hill & North Laine; Westbourne & Poets’ Corner
Decision maker
Cabinet
Date in document
18 Jul 2024
Stakeholders named
parsed
The selected local consortium for the Café Unit at Outdoor Sports HubFamilies, local residents, and park and beach usersThe wider Hove communityExisting residential sub-tenants at 3-7 Preston CircusLloyds Banking GroupBrighton & Hove City Council
Next steps
parsed
The Corporate Director City Services and the Assistant Director Legal and Democratic Services, in consultation with the cabinet member, will approve the terms.
The two commercial lease transactions will proceed to completion.
The Café Unit tenant will undertake a fit-out of the premises.
The tenant of 3-7 Preston Circus is expected to refurbish and improve the property.
Precedents
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