Decision details

With a view to the promotion of the economic, social and environmental well-being of the borough :-

1.      To delegate authority to the Cabinet Member for Children's Services, in consultation with the Head of Asset Strategy and Portfolio Management, the Director of Finance and Corporate Services and the Assistant Director (Legal and Democratic Services) to negotiate and conclude the new lease with St Martins or their successors in title and a new sublease or subleases ( as appropriate) with the Lyric, together with any incidental documentation she and they shall consider appropriate. Terms may provide for surrender of existing leases or subleases (including of the former Lyric box office) with a view to consolidation in a new lease or sublease (as the case may be) of the same or extended duration. 

          Subject to successful negotiation of the lease, the following recommendations to be adopted:

2.                  To allocate £2.8m to the Lyric capital project from prudential borrowing supported by the DSG centrally retained funds.

3.                  To delegate authority to the Cabinet Member for Children’s Services, in consultation with the Director of Children’s Services, to procure the necessary works for the Lyric partnership through the IESE framework within the sums identified within this report.

4.                  To delegate authority to the Cabinet Member for Children’s Services to agree the education offer for schools and create a borough-based community hub for voluntary groups within the enlarged Lyric facility and (if the hub is included in the new sublease to the Lyric) to negotiate (in consultation with the Assistant Director Property and Management) a sub-underlease back to the Council of the hub.