The purpose of this committee report is to progress original proposals within the 2016 Town hall business case seeking approval to lease the 19 residential units on floors 2 and 3 of the town hall to the councils wholly owned company Seven Arches Investment Limited (SAIL). The council is looking to let the residential apartments via a separate company as it is unable to let property on Assured Shorthold Tenancies (AST’s).

Cllr Tumbridge MOVED and Cllr Mrs Hones SECONDED the recommendations in the report.

A vote was taken by a show of hands and it was RESOLVED UNANIMOUSLY.

1.            The principle of a lease to let the 19 residential units at the Town Hall to Seven Arches Investment Limited is granted with the precise terms to be agreed under delegated authority to the Director of Corporate Resources (Section 151 Officer) in consultation with the Chairman of Policy, Resources and Economic Development and the Leader of the Council.

Reasons for Recommendation

Brentwood Borough Council is unable to facilitate assured short hold tenancies; therefore this must be completed via a separate company to ensure successful delivery of benefits specified in the original business case and to ensure income generation from the town hall residential apartments can commence at the earliest opportunity.