Issue - meetings

As detailed in the recommendation.

The Chief Officer (Housing and Assets) introduced the report and explained that the Council owned the freehold to Newtech Square.  The current tenant was no longer in occupation and wished to exercise their break clause in 2021. 

Following an independent valuation, an offer made to the Council was deemed acceptable and was recommended for approval.

As Chair of Corporate Resources Overview and Scrutiny Committee, Councillor Carver submitted the following views:

‘My views as Chair of Corporate Resources Overview and Scrutiny Committee are:

(1)       the tenant of 1 Newtech Square has exercised their break clause and despite their actively marketing the property in order to assign or sublet without success.  Interest in the property has been shown by a pharmaceutical company whom are already on Deeside Industrial Park with their offer being deemed acceptable.

(2)       the Council has a building to dispose of, it has a buyer who has made an acceptable offer which will save the Council having to pay £8,000 per annum Service Charge and Non-Domestic Rates of approximately £6,875 per annum should the offer not be accepted and the building become vacant.

Therefore, in the circumstances, I have no objection to the proposal to accept the offer’.

            Councillor Mullin, as Cabinet Member for Corporate Management and Assets, supported the recommendation.

RESOLVED:

That Cabinet support the sale of Newtech Square, an office and laboratory space of 22,500 sq. ft. on Deeside Industrial Park.