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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