Issue details

Acquisition of 4 Royce Road, Peterborough

The Cabinet Member is recommended to:


1.    Approve the leasehold acquisition and reverse surrender premium of the lease dated 15 January 1970 between The Mayor Aldermen and Citizens of The City of Peterborough (Peterborough City Council) and the original tenant Currie Plant (Holdings) Limited

2.    Peterborough City Council paying a reverse surrender premium of £175,000 exclusive of VAT plus Stamp Duty Land Tax (SDLT) and legal fees.

3.    Approve a £20,000 budget to assist the Council in preparing the unit for market.


Decision type: Non-key

Decision status: Recommendations Approved

Wards affected: East;

Notice of proposed decision first published: 04/11/2022

Anticipated restriction: Part exempt  - View reasons

Decision due: March 2023 by Cabinet Member for Finance and Corporate Governance

Lead member: Councillor Andy Coles, Cabinet Member for Legal, Finance and Corporate Services

Lead director: Executive Director Corporate Services

Department: Corporate Services

Contact: Felicity Paddick, Manager - Estates and Valuation Email: Tel: 07801 910971.

Relevant Scrutiny Committee: Growth, Resources, And Communities Scrutiny Committee