The Head of Corporate Property has submitted a report to seek approval for a budget of £770,000 for the repair of 2-4 Gloucester Street & 24-26 George Street, Oxford, in order to facilitate letting of the building.

Cabinet is recommended to:

1.        Approve a budget of £770,000 to spend on 2-4 Gloucester Street & 24-26 George Street, Oxford from the existing budget assigned for Condition Survey works.

The Head of Corporate Property had submitted a report to seek approval for a budget of £770,000 for the repair of 2-4 Gloucester Street and 24-26 George Street, Oxford in order to facilitate letting of the building.

Councillor Ed Turner, Deputy Leader (Statutory) – Finance and Asset Management reported that the property (formerly ‘Jamie’s’) had reverted to the Council following the company which previously held the lease entering into administration.  Survey works were subsequently done, and had identified water ingress.  A new tenant had now been found: however, substantial works were required to prevent further deterioration and to facilitate the letting.  Cabinet was therefore asked to agree a spend for the works from the existing budget assigned for condition survey works.

In response to questions it was clarified that the building had been surrendered back to the Council in January 2021.  The previous lease had been on a full repair basis; however, the administrator bore no health and safety or repair liabilities.  The timescale for completing the works and leasing the building was expected to be around 10 months.

Cabinet resolved to:

1.      Approve a budget of £770,000 to spend on 2-4 Gloucester Street and 24-26 George Street, Oxford from the existing budget assigned for condition survey works.