Purpose

To update Cabinet on the business plan for the
Fletton Quays hotel in administration. This follows the last time
it was discussed at Cabinet on 30 May
2024.

Decision

Cabinet:
 
1. Noted that the council’s bid to purchase the Fletton
Quays hotel, which Cabinet approved on 30 May 2023, has been
accepted by the Administrators.
 
2. Delegated authority to the Executive Director of Corporate
Services, in consultation with the Cabinet Member for Finance and
Corporate Governance and the Director of Legal and Governance, to
take all necessary steps and enter into all the necessary
agreements to complete the purchase, including the establishment of
a new company for this purpose.
 
3. Delegated authority to the Executive Director of Corporate
Services, in consultation with the Cabinet Member for Finance and
Corporate Governance and Director of Legal and Governance, to
establish the new company, determine its Articles of Association
and appoint its directors.
 
4. Requested the Executive Director of Corporate Services to
submit a further report to Cabinet setting out the options
following the completion of the business case after the soft-market
testing exercise has concluded.
 
Options and reasons can be found in the report attached at the
bottom of this page.