Issue - meetings

To consider the lease of the Stable Block at Wilmslow Leisure Centre.

1.    That the Portfolio Holder for Regeneration approves the offer from Lyme Design and Build Limited (LD&B Ltd) Marsland Street Industrial Centre, Hazel Grove, Stockport, SK7 4ER on terms and conditions to be determined by the Asset Manager in consultation with the Director of Legal Services. 

2.    That the Director of Legal Services be authorised to approve all legal documentation and proceed to practical completion of the lease and any other legal documentation.

Approval was sought to enter into a 10 year lease with Lyme Design and Build Limited (LD&B Ltd) for the Stable Block at Wilmslow Leisure Centre, Alderley Road, Wilmslow.

The property had been vacant for a number of years and was in need of substantial renovation. Offers had been sought from interested parties to use the land on the basis of a 10 year lease, the lease is to include a restricted user clause, would be contracted out of the security provisions (Section 24-28) of the Landlord and Tenant Act 1954 and the Council would insist on a sufficient mutually agreeable break clause in the proposed lease agreement.

LD&B Ltd proposed to use the site for an office and storage (B1 use) for residential home improvements, new builds & expansions; it proposed to improve and enhance the property and therefore the Council would receive the benefit of a much improved asset and realise any uplift in value or beneficial use which might be available at a later date. LD&B Ltd would be responsible for obtaining planning permission for the proposed improvement works and for a change of use (if required).

Letting the property would generate an annual income and relieve the Council of its obligations in terms of future holding costs (throughout the duration of the lease).

RESOLVED

1.    That approval be given to the offer from Lyme Design and Build Limited (LD&B Ltd) Marsland Street Industrial Centre, Hazel Grove, Stockport, SK7 4ER on terms and conditions to be determined by the Asset Manager in consultation with the Director of Legal Services. 

2.    That the Director of Legal Services be authorised to approve all legal documentation and proceed to practical completion of the lease and any other legal documentation.