Purpose

A Leader decision is sought to sign a new lease on part of Wycombe Air Park and enter constructive dialogue with the tenant on Collaboration Agreements for sites elsewhere on Wycombe Air Park as referred to in the Confidential Appendix.

Decision

The Leader AGREED that Approval is given to:

(1)               Buckinghamshire Council extinguishing the existing lease on Plot 3 on Wycombe Air Park (WAP) and simultaneously entering a new lease on the same demise to the current lessee – “the first transaction” - on terms set out in the Confidential Appendix.

(2)               Buckinghamshire Council entering an Option Agreement on Site C – “the second transaction” - on terms set out in the Confidential Appendix.

(3)               Buckinghamshire Council entering constructive dialogue with the current leaseholder to discuss a Collaboration Agreement relating to land elsewhere on WAP – “the third transaction” - on terms set out in the Confidential Appendix.

(4)               The Director of Commercial Property and Regeneration, in consultation with the Cabinet Member for Accessible Housing and Resources and Service Director for Law & Governance to progress legals, obtain all necessary sign off reports and carry out all necessary due diligence prior to exchanging/completing on the first and second transactions.

This decision is being made under the ‘special urgency’ provisions of the constitution, due to the time-limited negotiation agreement, as described in the report.