Issue - meetings
King George’s Fields Trust – Commercial Property Recommendations and Updates
Meeting: 22/11/2023 - King George's Field Charity Board (Item 3)
3 King George’s Fields Trust – Commercial Property Recommendations and Updates PDF 253 KB
Additional documents:
- Appendix. 1 for King George’s Fields Trust – Commercial Property Recommendations and Updates , View reasons restricted (3/2)
- Appendix. 2 for King George’s Fields Trust – Commercial Property Recommendations and Updates, item 3 PDF 301 KB
- Appendix. 3 for King George’s Fields Trust – Commercial Property Recommendations and Updates , View reasons restricted (3/4)
- Webcast for King George’s Fields Trust – Commercial Property Recommendations and Updates
Decision:
It was decided that the board would consider this item with the exclusion of the press and public. What was resolved by the board is shown below.
RESOLVED that the Board;
1. Notes the status of payments received and arrears for Green Bridge retail units.
2. Notes the actions being taken to recover outstanding arrears from “Tenant A”.
3. Notes the ongoing discussions in respect of the rent review for “Tenant B” and the valuation provided.
4. Grants permission for officers to enter into negotiations to settle a new rental agreement with “Tenant C” based on the valuation provided.
5. Authorises the Corporate Director of Communities in consultation with the Chair to act against tenants listed in Table 1 of the report submitted to recover costs of unpaid service rent.
6. Agrees to procure external services to manage lettings in regard the management of leases.
Minutes:
The board received a report that provided an update on the lease arrangements for the King George’s Field Trust (KGFT) retail and rental units, income from which supports the Charity to maintain park land and amenities for the benefit of Tower Hamlets residents. This Report also provides an update in respect of lease renewal discussions and service charge arrears. The report outlines requirements for management arrangements and recommends that a new management agent contract is tendered
It was decided that the board would consider this item with the exclusion of the press and public. What was resolved by the board is shown below.
The board of the trust considered the report and the Chair of the Trust then
moved the recommendations and it was:-
RESOLVED that the Board;
1. Notes the status of payments received and arrears for Green Bridge retail units.
2. Notes the actions being taken to recover outstanding arrears from “Tenant A”.
3. Notes the ongoing discussions in respect of the rent review for “Tenant B” and the valuation provided.
4. Grants permission for officers to enter into negotiations to settle a new rental agreement with “Tenant C” based on the valuation provided.
5. Authorises the Corporate Director of Communities in consultation with the Chair to act against tenants listed in Table 1 of the report submitted to recover costs of unpaid service rent.
6. Agrees to procure external services to manage lettings in regard the management of leases
Meeting: 25/10/2023 - King George's Field Charity Board (Item 4.2)
4.2 King George’s Fields Trust – Commercial Property Recommendations and Updates PDF 253 KB
Additional documents:
- Appendix 1 , View reasons restricted (4.2/2)
- Appendix 2, item 4.2 PDF 301 KB
- Appendix 3 , View reasons restricted (4.2/4)
- Webcast for King George’s Fields Trust – Commercial Property Recommendations and Updates