This report recommends the letting of Ramsay House, 10 St Ebbe’s Street, recently occupied by the Council.  It also recommends the Board to recommend Council to vary the Budget to include £300,000 for refurbishment of the cooling system (that is becoming outdated) at the premises, thereby increasing the value of the building.  

The Head of Corporate Assets submitted a report (previously circulated, now appended).

In relation to paragraphs 8-12 of the report the Executive  Director, City Services reported that the £300,000 capital budget for the replacement comfort cooling system could be met from planned maintenance and that there was therefore no need for the Board to make a capital bid to Council.

Resolved to:-

(1)   Agree to the proposed letting of the second floor of Ramsay House, 10 St Ebbe’s Street to Natural Motion Limited on the terms contained in the not for publication appendix to the report and otherwise on terms and conditions to be approved by the Head of Corporate Assets:

(2)   Grant authority to the Head of Corporate Assets to vary the proposed tenant terms provided the transaction continued to represent best consideration;

(3)   Agree that the £300,000 cost of a replacement comfort cooling system be met from the planned maintenance programme.