Decision details

The Council owns the freehold of the property, which forms a business centre with office accommodation available to be leased. The current tenant of Unit 1 is moving to another office within IP City Centre.

Decision made to enter into a new lease at the above property. The Council owns the freehold of this property and has granted a new three year lease to Archant Community Media Ltd for the purpose of office use.

Reason:

•Opportunity to strategically manage the Council’s estate. The Council owns the freehold of the property, which forms a business centre with office accommodation available to be leased. The current tenant of Unit 1 is moving to another office within IP City Centre.

•The property was available to let to secure new income for the Council.

•An independent agent is instructed to market the availability of accommodation at the Centre and to achieve the best terms possible for the Council and a Market Rent. Despite the pandemic and a challenging economic climate, market terms have been achieved.

There were no alternative sites to consider.