Purpose

To seek a further decision on the proposed
disposal of Swan Street

Decision

1)    
Approve the proposal to offer the entire Property of 24 Swan Street
to Kingsclere Youth Performing Arts Company Limited by way of
either a) a discounted freehold price or b) a 25-year lease at a
discounted rent.

 
2)    
Note the flexibility built into the leasehold offer which contains
an option for the Company to buy at a discount off Open Market
Value at a future date or to break the lease.
 
3)    
Should the documentation not be completed by 31st March
2024 (or shortly thereafter if completion is imminent) the property
will be sold on the open market.
 
4)    
Note the outputs that are anticipated to be generated by the
proposed lessees/purchasers.
 
5)    
Note that should the proposed lessees/purchasers make a profit this
will be reinvested in community provision in consultation with the
Council.