Issue details

URGENT DECISION: CONNECT 38 - ADDITION OF CAT A WORKS TO GENERAL FUND CAPITAL PROGRAMME

 

 

In May 2019, Folkestone & Hythe District Council purchased the investment property known as Connect 38 in Ashford, Kent. At that time, the first floor and part of the second floor were vacant and required finishing to a Category A (CatA) specification before leasing out. Unfortunately this space remained vacant as a result of low interest in office space through the Covid pandemic.

 

Recently however there has been a resurgence of interest in office space and the council has agreed draft heads of terms with a potential new tenant who requires occupation by 30 July 2021. Therefore the CatA works to the second floor need to be undertaken immediately to enable this deadline to be met. Urgent approval is now required to modify the Council’s capital programme to allow the CatA works to be undertaken in order to let the vacant space.

 

Decision type: Key

Decision status: Recommendations Approved

Notice of proposed decision first published: 18/05/2021

This decision will be taken under urgency procedures.

Reason for urgency:
The matter is urgent because there is no provision in the 2021/22 capital programme to undertake these urgent works. There is significant risk that if the budget is not agreed and the works commence immediately then we could lose the tenant and the subsequent rental income.

Decision due: 18 May 2021 by Leader of the Council and Cabinet Member for Otterpool Park and Planning Policy, Cabinet Member for Property Management and Grounds Maintenance

Lead member: Councillor David Monk, Leader of the Council david.monk@folkestone-hythe.gov.uk, Councillor John Collier john.collier@folkestone-hythe.gov.uk

Contact: Andy Blaszkowicz, Director of Housing and Operations Email: andy.blaszkowicz@folkestone-hythe.gov.uk.

Decisions

Documents