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Executive (I)
Wednesday, 14th August, 2013

REPORT TO:39
DECISION NUMBER:PH/87/2013
EARLIEST DATE FOR DECISION:14th August 2013

NEW LEASE UNIT 1 TALBOT ROAD MULTI STOREY CAR PARK
Matter for Consideration:
New letting at Talbot Road Multi Storey Car Park
Information:
Unit 1 of the Multi Storey Car Park, is situated on Cookson Street, opposite No 1 Bickerstaffe Square, and has an area of 7804 sq ft (725 sq m).

Provisional Heads of Terms have been agreed with Basria Restaurant (Blackpool) Ltd (a new company) for them to take the unit for a term of 15 years, with rent reviews every five years. There is also a tenants break after ten years. It is the intention of Basria Restaurant (Blackpool) Ltd to trade as Basrai World Buffet. serving Mexican, Italian, Chinese and Indian buffet.

It is anticipated that majority of their trade will use Talbot Road Multi-Storey Car Park and in recognition of this, concession parking, via a dedicated machine linked to the car park, will be made available. Parking services will keep the level of concession under review. Basria Restaurant (Blackpool) Ltd will be a new company, but Basria Restaurants Ltd (SC393746) will act as guarantor. References have been provided in support of their ability to meet the financial commitment.
Does the information submitted include any exempt information?NO
Legal Considerations:
The lease will be of an institutional standard and will include for a service charge so that expenditure on the common areas can be recovered.
Personnel Considerations:
None
Financial Considerations:
Over the first five year period, the package exceeds the baseline figures and the income generated will be ringfenced to meet the costs incurred in the development.
Performance Management Considerations:
None
Risk Management Considerations:
None
Relevant Officer:
Carl Baker, Assistant Chief Executive Organisation, Property and Information Technology
Relevant Cabinet Member:
Councillor F. Jackson
Consultation Undertaken:
None
Background Papers:
None
Is this a key decision?NO
Is the decision required in less than 5 days?NO
Recommendations:
To approve the letting to Basria Restaurant (Blackpool) Ltd for a term of 15 years on the terms proposed.
Reasons for Recommendations:
The proposal is the type of use agreed by the Central Business District Project Board as being applicable in this location and the terms proposed exceed the baseline projection.
Is the recommendation contrary to a plan or strategy adopted or approved by the Council?NO
Is the recommendation in accordance with the Council’s approved Budget?YES
Other alternative options to be considered:
Not to agree the lease.
Policy, Overview, and Scrutiny Committee Chairman (where appropriate)
Date Informed: N/A
Date Approved: N/A
DECLARATION(S) OF INTEREST (if applicable)
None
Decision:
The Cabinet Member agreed the recommendation as outlined above namely: To approve the letting to Basria Restaurant (Blackpool) Ltd for a term of 15 years on the terms proposed.
Date:14th August 2013
Reason for Decision:
The proposal is the type of use agreed by the Central Business District Project Board as being applicable in this location and the terms proposed exceed the baseline projection.

Date of Publication:		14th August 2013


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