Decision details

Review of Property Holdings: Lease Variation Agreement Churchill Court 3, Manor Royal, Crawley, RH10 9LU FP01 21/22

Decision Maker: Cabinet Member for Finance and Property

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

The County Council’s Future West Sussex Plan set out its ambition to minimise the burden of local taxation, delivering the best outcomes for residents with the money it spends, whilst living within its means.  In 2018 the County Council agreed to adopt an Asset Management Policy and Strategy. An objective of the strategy is to acquire, manage, maintain and dispose of property effectively, efficiently and sustainably, together with optimising financial return and commercial opportunities.

 

This report advises on the outcome of negotiations to vary the lease dated 24th July 2018 made between West Sussex County Council (1) and Crawley Churchill Court Centre Limited (2) for a term of years from 24.7.2018 to 23.7.2033 (“the Lease”).

 

The County Council owns the freehold estate of Churchill Court 3, Manor Royal, Crawley, RH10 9LU and the property is let to Crawley Churchill Court Centre Ltd (CC3 Ltd) who operate under the Regus branding. Regus provided a rent guarantee to CC3 Ltd and are part of the worldwide IWG company.

 

It has become necessary to negotiate a variation to the lease arrangements as detailed in the report (restricted to members only).  

 

Decision:

The Cabinet Member for Finance and Property has approved that;

(1)         the County Council enters into a variation agreement to the Lease with Crawley Churchill Court Centre Ltd on the terms set out in the report paper (restricted to members only); and that

(2)         authority be delegated to the Director of Property and Assets in conjunction with the Director of Law and Assurance to conclude the terms of the variation agreement using a Deed of Variation and a Rent Deposit Deed.

 

Interests and Nature of Interests Declared:

None

Publication date: 01/07/2021

Date of decision: 01/07/2021

Effective from: 13/07/2021

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