Decision details

This report seeks the approval of the Director of Finance to the payment of compensation packages to business tenants at the Liddell Road Industrial Estate in settlement of the termination of proceedings for the tenants’ statutory rights of lease renewal under Part II of the Landlord and Tenant Act 1954 or for other purposes, in order to achieve vacant possession of the estate by the end of 2014.

THAT the Director of Finance, in consultation with the Director of Children, Schools and Families, the Cabinet Member for Finance and the Cabinet Member for Children, authorise and delegate to the Head of Property and Borough Solicitor the payment of compensation packages or negotiated payments to tenants in settlement of (i) the early termination of a lease; (ii) the termination of proceedings for statutory lease renewal by the tenants of units at Liddell Road, and (iii) where appropriate the payment of disturbance to tenants (in the interests of an equitable settlement with displaced business tenants of the estate).