Issue details

Grant Contracted-Out Lease of Riverside Center Friary St GU1

To approve the grant of the lease of the Riverside Centre to Webuild Athletics Ltd in line it the following terms and conditions.

The use will fall within Use Class E of the Town and Country Planning (Use Classes) Order 1987

The agreed term is 10 years; the rent is £25,000 pax; payable quarterly in advance; subject to a rent review on the 5th anniversary upwards only.

This provides the ‘best consideration reasonably obtainable’ where the proposed term exceeds seven (7) years.

If you have any queries, then please contact Jacqueline Stewart who will be happy to provide further information.

Decision type: Key

Reason Key: Income > £200,000;

Decision status: Recommendations Approved

Wards affected: Holy Trinity;

Notice of proposed decision first published: 09/03/2023

Decision due: 6 Apr 2023 by Joint Executive Head: Assets and Property

Lead member: Lead Councillor for Finance and Property

Contact: Jacqueline Stewart Email:

Authority / Delegation: Council’s 8/12/2022 Constitution Part 3, Page 3-67 Para 3(a), Executive Head: Assets and Property in consultation with the appropriate lead councillor and subject to being satisfied that the Council will receive the best consideration reasonably obtainable: Subject to consultation with the Chief Finance Officer to accept terms for the granting, renewing, reviewing and varying of leases of Council owned land and property held in the General Fund