COBTREE MANOR ESTATE CHARITY COMMITTEE

11th July 2019

 

Land and Building at Cobtree Manor Estate

 

Final Decision-Maker

Cobtree Manor Estate Charity Committee

Lead Head of Service

Georgia Hawkes

Lead Officer and Report Author

Lucy Stroud

Classification

Public

Wards affected

Boxley

 

Executive Summary

The Council leases land and building at Cobtree Manor Estate to Travis Perkins. There has been a new inter-group company established within Travis Perkins to deal with property holdings and the lease now needs to be in the name of this new company.

 

 

This report makes the following recommendations to this Committee:

1.   That a Licence to Assign be granted to Travis Perkins (Properties) Ltd and the Licence backdated to allow for the delay in getting a report to the Committee.

2.   That Mid Kent Legal Services prepare the relevant legal documents and complete the transaction.

 

 

Timetable

Meeting

Date

Cobtree Manor Estate Charity Committee

11th July 2019

 

 



Land and Building at Cobtree Manor Estate

 

1.       CROSS-CUTTING ISSUES AND IMPLICATIONS

 

 

Issue

Implications

Sign-off

Impact on Corporate Priorities

The four Strategic Plan objectives are:

 

         Embracing Growth and Enabling Infrastructure

         Safe, Clean and Green

         Homes and Communities

         A Thriving Place

 

We do not expect the recommendations will by themselves materially affect achievement of corporate priorities.  However, they will support the Councilís overall achievement of its aims as set out in section 4 [preferred alternative].

 

Georgia Hawkes

Risk Management

There are no risks associated with the recommendations.

Georgia Hawkes

Financial

There are no financial implications associated with the recommendations.

Section 151 Officer & Finance Team

Staffing

There are no staffing implications associated with the recommendations.

Georgia Hawkes

Legal

Mid Kent Legal Services will be instructed to prepare the relevant documents and completed the transaction.

Legal Team

Privacy and Data Protection

Accepting the recommendations will increase the volume of data held by the Council.  We will hold that data in line with our retention schedules.

Policy and Information Team

Equalities

The recommendations do not propose a change in service therefore will not require an equalities impact assessment.

Equalities and Corporate Policy Officer

Public Health

 

 

We recognise that the recommendations will not negatively impact on population health or that of individuals.

Public Health Officer

 

2.††† INTRODUCTION AND BACKGROUND

 

2.1†† In 1993 the Council granted a lease of land and building at Cobtree Manor Estate to Travis Perkins (Properties) Ltd. The lease is for 999 years less 3 days, and the rent is a peppercorn because Travis Perkins paid a premium for the lease in 1993 of £93,750.Travis Perkins have now established a new inter-group company to hold its property and have therefore requested that the lease be assigned to the new company.

 

2.2†† The new inter-group company is TP Property Company Limited.

 

 

3.   †† AVAILABLE OPTIONS

 

3.1     There are two options available to the Council, to grant the assignment or refuse the request for an assignment. Granting the assignment allows the lease to continue under its existing terms, to the same tenant, and the only variation is to the company name.

 

3.2     Refusing the request for an assignment would render the Council in breach of the lease terms because a request of this nature cannot be unreasonably withheld under the terms of the lease.

 

 

4.        PREFERRED OPTION AND REASONS FOR RECOMMENDATIONS

 

4.1     The preferred option is to grant the assignment and allow Travis Perkins to put the lease into the name of their new inter-group company. This will allow the lease to continue, for Travis Perkins to remain the Councilís tenant and prevent the possibility of the Council being in breach of its obligations as a landlord. Travis Perkins are a good tenant and there is no reason why the assignment wouldnít be recommended.

 

 

5.       NEXT STEPS: COMMUNICATION AND IMPLEMENTATION OF THE DECISION

 

5.1    The Legal Team will be asked to draft the Licence to Assign and this will be sent to Travis Perkins. On completion of the Licence, the lease will be assigned to TP Property Company Limited.

 

 

6.††† REPORT APPENDICES

 

The following documents are to be published with this report and form part of the report:

           Appendix 1: Site plan