Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: No

Date of Decision: November 12, 2025

Purpose: For the Council to enter into an agreement for Lease in respect of the Mary Forsdyke Car Park, High Road, Bushey Heath, Hertfordshire, WD23 1UT.

Content: RESOLVED that Cabinet a)     Approved that the Council entered into an agreement with the party, and on the terms, set out in 2.1. b)     Authorised the Head of Asset Management & Engineering Services and Chief Finance Officer in consultation with the Portfolio Holders for Asset Management and Streetscene to agree detailed lease terms c)     Authorised the Council’s Legal Services, or external lawyers, to prepare and complete all necessary legal documents.   Reasons for decision 1.     The agreement would enable the Council to secure a high-quality tenant with a strong national covenant, ensuring a reliable and sustainable income stream from an existing asset that currently provided limited financial return. 2.     The proposal would deliver physical and visual improvements to the Mary Forsdyke Car Park through resurfacing, relining, installation of new signage, trolley bays, and enhanced lighting - all undertaken and funded by the Tenant. 3.     The lease arrangement complemented and contributed to the regeneration and vitality of the High Road, reinforcing Bushey Heath’s role as a key local retail centre.   Alternative Options Considered 1.     Option 1 – Do nothing. Taking no action would mean the Council continued with the existing car park operation, foregoing the opportunity to secure a guaranteed rent, improved facilities, and wider economic uplift. This option would not represent best value for the Council. Retaining the car park under direct Council management would maintain full control of the site but would: a) Generate only modest and uncertain revenue b) Require ongoing maintenance and management costs, and c) Miss the opportunity to secure a long-term income stream from a strong national tenant and associated investment in car park improvements. For these reasons, this option was not recommended. 2.     Option 2 – Dispose of the freehold interest in the car park. This would generate a one-off capital receipt but would result in the loss of long-term revenue income and the loss of strategic control over a key public asset. Retaining ownership while granting a lease offered a better balance of financial return and control. 3.     Option 3 – Let the car park to an alternative operator. The Council could seek to lease the site to another party for general parking or commercial use. However, no alternative operator had approached the Council, and the opportunity before it would bring clear regeneration and economic benefits to Bushey Heath. Authorises the Head of Asset Management & Engineering Services and Chief Finance Officer in consultation with the Portfolio Holders for Asset Management and Streetscene to agree detailed lease terms.