Grant of Lease Car Park C, Ricoh Arena
Report of the Deputy Chief Executive (Place)
(Listing Officer: R Moon, tel: 024 7683 2350)
Additional documents:
Minutes:
Further to Minute 20 above, the Cabinet considered a private report of the Deputy Chief Executive (Place) that set out confidential aspects of proposals for the grant of a new long lease over Car Park C, Ricoh Arena, in order to facilitate the development of a hotel.
RESOLVED that the Cabinet:
1) Approves the grant of an initial licence over Car Park C, shown edged red on Plan 1 attached as Appendix 1 to the report, to WHL on income sharing terms to expire no later than 30th November 2019.
2) Approves the grant of a long lease of the area, shown edged red on Plan 1 attached as Appendix 1 to the report, to WHL which shall be co-terminus with the lease on the remainder of Ricoh Arena, to facilitate the development of the new hotel subject to planning consent for the development of a hotel being granted.
3) Approves the grant of a car parking licence to WHL over the Leisure Land, shown edged red on Plan 2 attached as Appendix 1 to the report, in order to provide additional car parking to support the Ricoh Arena and to provide replacement car parking during the construction of the hotel.
4) Delegates authority to the Director of Project Management and Property Services, in consultation with the Cabinet Member for Jobs and Regeneration, to finalise the terms of the licence and lease, subject to this report and for any subsequent variation in terms.
5) Delegates authority to the Head of Legal Services to execute all the necessary documentation for the initial licence, option and lease referred to in this report.