Issue - meetings

To authorise the strategic director of resources, advised by the director of planning and growth and in consultation with the assistant director of property, to enter into the letting of the former garages to Southwark Smart Space Ltd, for a lease and other related issues.

RESOLVED:

That cabinet:

1.  Authorised the Strategic Director of Resources, advised by the Director of Planning & Growth and in consultation with the Assistant Director of Property, to enter into the letting of the former garages to Southwark Smart Space Ltd, for a lease and other related issues on the terms set out in exempt Appendix 1 Closed.

2.  Noted the circumstances leading to the proposed letting and due diligence being undertaken by officers and their advisors.

3.  Noted the financial arrangements of the letting and the conditions of the lease in respect of capital works.

4.  Delegated to the Strategic Director of Resources, advised by Director of Planning and Growth and in consultation with the Assistant Director of property, authority to:

·  Complete the letting of the former garages for self-storage purposes; and

·  Agree detailed transactional terms pursuant to the Heads of Terms (see Closed Appendix 1).