The Regeneration and Major Projects Service Manager has submitted a report which seeks approval to lease out the North Wing of the Town Hall.

Recommendations: That the City Executive Board:

1.    Approve the proposed lease of the surplus office space within Oxford Town Hall.  The outline details of the lease are set out in the Not for Publication Confidential Appendix 4 of this report.  The detailed provisions of the lease are be approved by the Regeneration and Major Projects Service Manager.

2.    Grant authority to the Regeneration and Major Projects Service Manager, in consultation with the Board Member, to vary or extend the areas to be leased as detailed herein provided the transaction continues to represent best consideration and operational benefit.

The Regeneration and Major Projects Manager submitted a report (previously circulated, now appended) concerning a proposed lease for the North Wing of the Town Hall. Councillor Turner presented the report to the Board and provided some context to it.  He observed that this was good news for the Council in that it will produce an ongoing revenue stream.

The Board noted that there was a confidential appendix to the report.

Resolved to:-

(1)  Approve the proposed lease of the surplus office space within Oxford Town Hall. The outline details of the lease are set out in the not for publication confidential appendix to the report. The detailed provisions of the lease are to be approved by the Regeneration and Major Projects Service Manager;

(2)  Grant authority to the Regeneration and Major Projects Service Manager, in consultation with the Board Member, to vary or extend the areas to be leased as detailed herein, provided the transaction continues to represent best consideration and operational benefit.

This paper contains two not for publication appendices to the report at agenda item 7

It contains information concerning the terms of the proposed lease.

The public interest in maintaining the exemption from publication is in order not to compromise commercially sensitive information under paragraph 3 of Part 1, Schedule 12A of the Local Government Act 1972.

The Board received and noted the contents of a not for publication appendix (previously circulated, now appended) to the report at agenda item 7 (minute 179 refers)

The Board decided not to release the appendix from confidentiality because the information contained within it was, and remains, commercially sensitive.