The Director of Finance and Business Improvement introduced the report and stated that a public sector body had requested that the Council sub-lease an area of office space for a period of six months on a fixed term contract.

The benefits of the proposal were outlined.

RESOLVED: That

1.  The Director of Finance and Business Improvement be given delegated authority to negotiate and agree terms for a sub-lease or licence in respect of part of a floor of Maidstone House for a term of six months for an agreed rental income.

2.  The Head of Legal Services be given delegated authority to complete the necessary legal formalities and all agreements and deeds arising from or ancillary to the sub-lease or licence on the terms agreed by the Director of Finance and Business Improvement or to appoint solicitors to complete such legal formalities and documents if considered necessary; and

3.  The Director of Finance and Business Improvement be given delegated authority to vary the terms of the sub-lease or licence in consultation with the Chair and Vice-Chair of the Policy and Resources Committee in order to maximise the economic benefits of the transaction and that the Head of Legal Services be authorised to complete the necessary legal formalities and all deeds agreements arising from or ancillary to the transaction.