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Decisions published

23/11/2020 - Purchase of NCP Lease ref: 257    Recommendations Approved

Purchase of the leasehold for NCP in Ashford Town Centre. This was considered as an investment in it's own right with a good yield and as marriage value to that already owned in Park Mall for later development.
This was considered by ERIB in early 2020 but then halted just before completion in March 2020 due to Covid19 and the unknown financial impacts to come.
The availability to purchase arose again in November 2020 with short timescales to consider.

Decision Maker: Chief Executive

Decision published: 07/12/2020

Effective from: 23/11/2020


The decision was made by all Members of ERIB to purchase the NCP lease, off market, at 2.85M. Due to the tight timescales the CEO used her emergency powers in order to complete the purchase with a report to full Council

Lead officer: Paul McKenner