Purpose

To seek Cabinet’s authority to write off
arrears of rent, insurance and service charges that are now deemed
irrecoverable associated to the subject property (“the
Property”).

Content

The Cabinet has
considered a proposal to write off arrears of rent, insurance and
service charges in the sum of £175,753.19 that are now deemed
irrecoverable associated to the subject property and has:-
 
(1)  Given approval to write off the arrears of rent,
insurance and service charges totalling £175,753.19 that are
now deemed irrecoverable as detailed within this report.
 
(2) Note that the
Deputy Chief Executive has the existing delegated authority to
proceed to terminate or receive the surrender of the lease in
relation to the Property following the approval of the write
off of the arrears associated with the
tenancy.
 
(NOTE: The report
contained a ‘not for publication’ appendix that had
been circulated to members of the Cabinet only).

Alternative options considered

None.