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 ongoing discussions with “Tenant A” in respect of outstanding arrears and their lease arrangements. The Board requested further information be provided with respect of the proposed arrangements.

3.    Notes the report in respect of the rent review for “Tenant B” and their lease arrangements. The Board requested further information be provided.  

4.    Notes the current position with regard to negotiations with “Tenant C” regarding their lease renewal.

5.    Notes the status of lease renewal arrangements with “Tenant D”.

6.    Notes the ongoing discussions with “Tenant E” regarding their rent review and requested details of all outstanding rent reviews.

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 ongoing discussions with “Tenant A” in respect of outstanding arrears and their lease arrangements and approve the proposal from the tenant to offset their arrears.

3.    Notes the outcome of discussions in respect of the rent review for “Tenant B” and their lease arrangements.

4.    Notes the current position with regard to negotiations with “Tenant C” regarding their lease renewal.

5.    Notes the status of lease renewal arrangements with “Tenant D”.

6.    Note the ongoing discussions with “Tenant E” regarding their rent review.