Decision

Approve Sub- lease of part Nicholsons Walk Shopping Centre to the Council and simultaneous sub sub letting by the Council to Denhead SARL

Reasons for the decision

To enable the demolition of the existing buildings ahead of the completion of the sale of the Council assets and in order to use the appropriation powers that have already been put in place by the Council the developer needs to have acquired a new interest in the land. to do this the developer is granting a sub lease to the Council which will simultaneously grant a sub sub lease back to the developer.

Alternative options considered

do nothing - demolition and delivery of new scheme will be delayed