Issue details

Purchase of long leasehold interest on Bessemer Close.

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 type: Key

Decision status: Recommendations Approved

Notice of proposed decision first published: 09/11/2018

Decision due: 13 Dec 2018 by Cabinet

Lead member: Cabinet Member for Investment & Development

Lead director: Director of Economic Development

Scrutiny Consideration: Green/Gwyrdd


Agenda items