Decision details

To accept the early surrender of a leasehold interest in a retail property in the city centre due to business collapse

Decision Maker: Strategic Assets Delivery Director

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

1. The properties are owned by the council as part of its property investment portfolio held to deliver optimum commercial returns through rental income which is used to support the council’s strategic objectives in line with the County Plan 2020 – 2024.
2. In August 2023, it became apparent that a major retailer had appointed an Administrator to try and sell its business as a going concern
3. The Administrator has confirmed that it had been unsuccessful in its plans, but had secured the future of a number of stores across the Country. It was confirmed Herefordshire Council’s store was to permanently close to the public with effect from Thursday 21st September.
4. The Administrator has contacted the Authority’s on site Centre Manager to arrange to hand the keys of the property over on Friday 22nd September and to surrender the lease.

Contact: Sarah Jowett, Strategic Assets Delivery Director Email: Sarah.Jowett@herefordshire.gov.uk Tel: 01432 383302.

Publication date: 28/09/2023

Date of decision: 22/09/2023

Accompanying Documents: