Decision details
Letting of Unit in Kingswalk
Decision Maker: Cabinet Member for Regeneration and Economy
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
This is a commercial decision to grant a new
lease in a unit in Kingswalk Shopping Centre Gloucester under the
General Exception rule. The identity and details of the letting are
business sensitive at this stage and not for publication. However,
the total contract term value is potentially
£850,000.
Decision:
This is a commercial decision to grant a new lease in a unit in Kingswalk Shopping Centre Gloucester. The identity and details of the letting are business sensitive at this stage and not for publication. However, the total contract term value is potentially £850,000.
Reasons for the decision:
It is important to grant the lease quickly to secure the interest and preserve the Council’s revenue flow and the vitality of the shopping centre as a whole.
Alternative options considered:
None - if we do not secure this letting we will have a drop in revenue. It is important that we proceed rapidly with the letting to protect our revenue flow and attract a new occupier that aligns with our business plans for the centre.
Publication date: 07/12/2018
Date of decision: 07/12/2018
Effective from: 15/12/2018