Decision details

1. Agreed that the Council will enter into an agreement for a lease from Skanska UK Limited

subject to development and completion of Engine Shed 2 by Skanska.

2. Agreed that the Council will also enter into an agreement to grant a sub-lease to an incubator manager for them to manage and operate Engine Shed 2. Commitment on these two agreements for lease will be managed on the basis that there is no net revenue cost to the Council from the rent commitments over the length of the sub-lease.

3. Authorised the Strategic Director: Place to approve the detailed terms of the agreement for lease and sub-lease following briefing of the Cabinet Member for Place, and to approve completion of the agreements