Purpose

On 27 April 2023 the
Council’s Policy and Resources Committee considered a report
relating to a Strategic Acquisition. The report contained exempt
information as defined in paragraph 3 of Schedule 12A of the Local
Government Act 1972.
It was considered in
the public interest to exclude the press and public as the report
and appendices contained ‘Information relating to the
financial or business affairs of any particular person (including
the authority holding the information)’ during the
consideration by Committee of the report and its appendices. Policy
and Resources Committee resolved [amongst other matters] to
approve:
 
· 
the acquisition of the Pyramids and
Grange Shopping Centres from the Mars Pension Fund Trustees [a plan
of which is set a in Appendix 1 to this
report];
· 
that the acquisition be financed by
funding via the Public Works Loan Board;
· 
that the Director of Law and
Governance, in consultation with the Director of Regeneration and
Place, be authorised to negotiate and finalise the associated legal
documentation for the acquisition of the Pyramids and Grange
Shopping Centres;
· 
the appointment of Jones Lang
LaSalle Property Limited (JLL) to fulfil day to day property and
asset management functions for the two centres including asset
management, rent collection, service charge administration,
proactive and reactive repairs, security electrical testing and
litter collection for a minimum period of 6 months from the date of
acquisition; and
· 
the appointment of Barker
Proudlove Ltd and Emanual Oliver Ltd as
letting agents for the shopping centre.
The Director of Law and
Governance is content to proceed with the purchase within the terms
of the authority to given to  them by Policy and Resources
Committee.
 
Terms have been agreed
to for the associated appointment of Jones Lang LaSalle Property
Limited (JLL) to fulfil day to day property and asset management
functions for the two centres and Barker Proudlove Limited and Emanuel Oliver Ltd to carry
out letting agency functions.  Such
appointment will enable there to be continuity given that JLL were
already acting as the property manager for Mars Pension Fund on the
property. The appointment of Barker Proudlove Limited and Emanuel Oliver Ltd provides
continuity as this is the same arrangement that was entered into by
Mars Pension Fund.  The appointment of
JLL, Barker Proudlove Ltd and Emmanuel
Oliver Ltd, each for a term of 12 months will enable the Council to
establish a procurement process to enable firms to bid for such
work on or about the anniversary of the purchase of the shopping
centres.
 
Arrangements have been made for the
Council’s responsibilities as landlord to be subject to the
usual public liability insurance policy.
 
 

Decision

Resolved – that the Director of Law and Governance has
approved:
(1) 
the acquisition of the Pyramids and the Grange,
Birkenhead from the property owner, Mars Pension Fund
Trustees;
(2) 
the appointment of Jones Lang LaSalle Property
Limited (JLL) to fulfil day to day property management function for
the two centres including asset management, rent collection,
service charge administration, proactive and reactive repairs and
maintenance, security maintenance electrical testing and litter
collection for a period of 12 months from the date of acquisition;
and 
(3) 
 the appointment of
Barker Proudlove Limited and Emanuel Oliver Ltd as letting agents
for the shopping centres for a period of 12 months.