Decision

RESOLVED that the lettings as a reserved matter under the current delegation to the Partners of the Burnt Mill (Harlow) LLP (referred to as “the LLP”) of Unit 1 and Units 2-3 Millbrook Studios (referred to as “the Property”) on the headline terms set out in confidential Appendices A and B to this report. subject to non-material variations required during the drafting of the legal lease documentation, be approved.

Reasons for the decision

The proposal is consistent with the Building Harlow’s Future Mission to Secure our Future by attracting and enabling inward investment into Harlow.

To generate an ongoing rental income stream for Burnt Mill (Harlow) LLP thereby supporting the LLP’s financial sustainability and complying with the Council’s statutory and common law fiduciary duty to get the best value from its assets.

Alternative options considered

The council could prevent the LLP from granting one or both of the leases.  This is not recommended for the reasons stated in this report.