Decision details
Purchase of BIFFA Waste Recycling Centre, Bessemer Close and Disposal of 3-4 Wharton Street, Cardiff.
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
The Council own the freehold interest in approximately 2 acres on Bessemer Close adjoining the existing HWRC. The asset is let on a 125 year ground lease from December 1990 at a peppercorn rent. The Council's tenant has an occupational tenant to Biffa Waste for 15 years from 2017 with a current passing rent being £80,000 per annum.
The long leasehold interest is on the market for £1.25m.
This will provide the Council with a regular and secure income and recoup control over a site adjoining the existing HWRC.
Decision:
Appendices 2, 3 and 5 of this report are not for publication as they contain exempt information of the description contained in paragraphs 14 of part 4 and paragraph 21 of part 5 of Schedule 12A of the Local Government Act 1972.
RESOLVED: that the purchase of Biffa Waste Recycling centre for investment purposes and the disposal of long leasehold of 3-4 Wharton Street be agreed
Publication date: 17/12/2018
Date of decision: 13/12/2018
Decided at meeting: 13/12/2018 - Cabinet
Effeithiol O: 29/12/2018
Accompanying Documents:
- Cabinet 13 Dec 2018 Bessemer
PDF 143 KB - Cabinet 13 Dec 2018 Bessemer App 1
PDF 410 KB
- Restricted enclosure View reasons restricted
- Restricted enclosure View reasons restricted
- Cabinet 13 Dec 2018 Bessemer App 4
PDF 552 KB
- Restricted enclosure View reasons restricted
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