Issue - meetings
Grant of a sub-lease for 2-4 Old Street Yard, EC1 8AF
Meeting: 23/05/2024 - Executive (Item 237)
237 Grant of a sub-lease for 2-4 Old Street Yard, EC1 8AF 
PDF 94 KB
Additional documents:
- General Exception Notice - Old Street Lease - 14 May 2024, item 237
PDF 67 KB
- Webcast for Grant of a sub-lease for 2-4 Old Street Yard, EC1 8AF
Decision:
RECOMMENDATIONS
2.1. To approve the granting of an underlease to FareShare for 2-4 Old Street Yard, EC1Y 8AF in line with the terms agreed in the exempt Appendix 1.
2.2. Delegate authority to the Corporate Director of Community Wealth Building to enter into the lease.
DECISIONS
AGREED RECOMMENDATIONS
Reasons for the decision – as detailed in the report
Other options considered – as detailed in the report
Conflicts of interest / dispensations granted – none
Minutes:
The report was introduced by Councillor Santiago Bell-Bradford.
RESOLVED:
(a) To approve the granting of an underlease to FareShare for 2-4 Old Street Yard, EC1Y 8AF, in line with the terms agreed in exempt Appendix 1 of the report of the Executive Member for Finance, Planning and Performance.
(b) To delegate authority to the Corporate Director of Community Wealth Building to enter into the lease.
Reasons for the decision - The unexpected termination of an underlease had exposed the Council to significant financial liability. The Council had secured a new tenant, Fareshare, who would both assume all financial liabilities and commit to delivering significant social value across the Borough.
Other options considered – None.
Conflicts of interest / dispensations granted – none