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