Proposed Future Management for the Tenanted Non Residential Portfolio
Report of the Strategic Director, Housing, Environment and Healthy Communities
Minutes:
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Consideration has been given to a change in the arrangements for the management of the Council’s Tenanted Non-Residential Portfolio (‘TNRP’), currently leased to PSP Gateshead (TNRP) Limited Liability Partnership (LLP). |
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The alternative option to that being recommended, but which was discounted, included moving to a hybrid management option with PSP. |
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RESOLVED - |
(i) |
That the Council serve notice in accordance with the provisions of the Overarching Agreement to bring the Lease with the LLP to an end and bring back in-house the management of the Council’s Tenanted Non-Residential Portfolio. |
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(ii) |
That Strategic Director, Corporate Services and Governance be authorised to negotiate the details of the transaction. |
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The above decisions have been made for the following reasons: |
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(A) |
Continuation of the current arrangements is not possible due to the inability to trade assets and generate better returns. |
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(B) |
The Council can continue to engage with PSP through the continuing partnership in respect of future asset management of the TNRP and development aspirations. |