The Committee considered a report seeking approval for a surrender and regrant of a new lease of Adelphi House, on the terms set out in the report.

Resolved -

(1)        That the surrender and regrant of a new lease on the terms set out in paragraph 3.5 of the report be agreed, to ensure that the tenant remained in occupation of the property for a longer term at least until 23 June 2033 and to enable the Council to retain this asset for its income as an investment property in order to support the Council’s Medium-Term Financial Strategy;

(2)        That, if the tenant subsequently changed their negotiated position, the Executive Director of Economic Growth & Neighbourhood Services, in consultation with the Director of Finance, Leader of the Council, the Lead Councillor for Planning & Assets and the Assistant Director of Legal and Democratic Services, be authorised to agree revised terms that represented best value to the Council.