Agenda and minutes

Venue: Committee Rooms, 2nd Floor, West Wing, Guildhall

Contact: Richard Holt  Email: Richard.Holt@cityoflondon.gov.uk

Items
No. Item

1.

Apologies for Absence

Minutes:

Apologies for absence were received from Tijs Broeke.

 ...  view the full minutes text for item 1.

2.

Members' Declarations under the Code of Conduct in respect of items on the agenda

Minutes:

There were no declarations.

 ...  view the full minutes text for item 2.

3.

Minutes pdf icon PDF 163 KB

To approve the public minutes and non-public summary of the Property Investment Board meeting held on the 16th  of September 2020.

 ...  view the full agenda text for item 3.

Minutes:

The Board considered the public minutes and non-public summary of the Property Investment Board meeting held on the 7th of September. Responding to a query from a Member the Chair confirmed that it had not been fully clarified if the Resource Allocation Sub- Committee on the 7th of September did not consider the report on the proposal to Assist City of London Investment Tenants for September Quarter Rents for political reasons and commented that it was likely due to due to a slowing of the system.

 

RESOLVED– That the Board approved the public minutes and non-public summary of the Property Investment Board meeting held on the 7th of September be approved as accurate record.

 

 ...  view the full minutes text for item 3.

4.

Questions on matters relating to the work of the Board

Minutes:

There were no questions received in the public session.

 ...  view the full minutes text for item 4.

5.

Any other business that the Chairman considers urgent

Minutes:

There was no urgent business was considered in the public session.

 ...  view the full minutes text for item 5.

6.

Exclusion of the Public

MOTION – That under Section 100A(4) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part 1 of Schedule 12A of the Local Government Act.

 

 

 

 ...  view the full agenda text for item 6.

Minutes:

RESOLVED – That under Section 100A(4) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part 1 of Schedule 12A of the Local Government Act.

 

Item No.

Paragraph No.

7-22 (excluding 13)

3

13

2

 

 ...  view the full minutes text for item 6.

7.

Non Public Minutes

To approve the non-public minutes of the Property Investment Board meeting held on the 16th  of September 2020.

 

 ...  view the full agenda text for item 7.

Minutes:

The Board considered the non-public minutes of the Property Investment Board meeting held on the 7th of September.

 

RESOLVED– That the Board approved the non-public minutes of the Property Investment Board meeting held on the 7th of September be approved as accurate record.

 

 ...  view the full minutes text for item 7.

8.

City Fund, City's Estate and Bridge House Estates - Turnover Rent Proposal to Assist City of London Investment Tenants

Report of the City Surveyor.

 ...  view the full agenda text for item 8.

Minutes:

The Board considered a report of the City Surveyor on the Turnover Rent Proposal to Assist City of London Investment Tenants for the City Fund, City’s Estate and Bridge House Estates.

 

RESOVLED- That the report be approved.

 ...  view the full minutes text for item 8.

9.

All Funds - Rental Estimates Monitoring Report

Report of the City Surveyor.

 ...  view the full agenda text for item 9.

Minutes:

The Board received a report of the City Surveyor on the quarterly update of rental estimates for City’s Estate, Bridge House Estates, City Fund, and the Strategic Estate, as at 30th September 2020.

 

RESOVLED- That the report be noted.

 ...  view the full minutes text for item 9.

10.

Oracle Property Manager (OPN) Replacement

Report of the City Surveyor.

 ...  view the full agenda text for item 10.

Minutes:

The Board considered a report of the City Surveyor on the Oracle Property Manager (OPN) Replacement.

 

RESOLVED- That the report be approved.

 ...  view the full minutes text for item 10.

11.

Delegated Authorities- Decisions at at 30th September

Report of the City Surveyor.

 ...  view the full agenda text for item 11.

Minutes:

The Board received a report of the City Surveyor which advised Members of property transactions approved under the City Surveyor’s delegated authority between the 1st July to 30th September 2020.

 

RESOLVED- That the report be noted.

 

 

 ...  view the full minutes text for item 11.

12.

Action Taken Between Meetings

Report of the Town Clerk.

 

 

 ...  view the full agenda text for item 12.

Minutes:

The Board received a report of the Town Clerk which advised Members of action taken by the Town Clerk since the last meeting of the Board, in consultation with the Chair and Deputy Chairman, in accordance with Standing Order Nos. 41(a) and (b).

 

RESOLVED- That the report be noted.

 ...  view the full minutes text for item 12.

13.

6-8 Eastcheap Services Replacement

Report of the Town Clerk.

 ...  view the full agenda text for item 13.

Minutes:

The Board considered a report of the City Surveyor on the 6-8 East Cheap Services Replacement project.

 

RESOLVED- That the report be agreed.

 ...  view the full minutes text for item 13.

14.

City's Estate : Nicholls & Clarke Site (Blossom Street Development) Variation to Development Agreement – Enhanced Licence Fees and Inclusion of Covid -19 as an Extension of Time

Report of the City Surveyor.

 

To follow.

 ...  view the full agenda text for item 14.

Minutes:

The Board considered a report of the City Surveyor on the Nicholls & Clarke Site (Blossom Street Development) Variation to Development Agreement.

 

RESOLVED- That the report be approved.

 ...  view the full minutes text for item 14.

15.

City's Estate - Surrender / Deed of Release at 231/233 Tottenham Court Road

Report of the City Surveyor.

 

To follow.

 ...  view the full agenda text for item 15.

Minutes:

The Board considered a report of the City Surveyor on the Surrender & Deed of Release for 231/233 Tottenham Court Road in the City’s Estate Fund.

 

RESOLVED- That the report be approved.

 ...  view the full minutes text for item 15.

16.

City Fund : Turnover Rents on Leadenhall Market

Report of the City Surveyor.

 ...  view the full agenda text for item 16.

Minutes:

The Board considered a report of the City Surveyor on the proposal for Leadenhall Market Turnover Rents within the City Fund.

 

RESOLVED- That the report be agreed.

 ...  view the full minutes text for item 16.

17.

City Fund : Gateway 1&2 6 Broad Street Place,EC2

Report of the City Surveyor.

 ...  view the full agenda text for item 17.

Minutes:

The Board considered a report of City Surveyor on the Refurbishment and Extension of 6 Broad Street Place within the City Fund.

 

RESOLVED- That the report be approved.

 ...  view the full minutes text for item 17.

18.

City Fund - Refurbishment and Extension of New Liverpool House, 15/17 Eldon Street, London EC2M

Report of the City Surveyor.

 ...  view the full agenda text for item 18.

Minutes:

The Board considered a report of the City Surveyor on the Refurbishment and Extension of New Liverpool House, 15/17 Eldon Street within the City Fund Estate.

 

RESOLVED- That the report be approved.

 ...  view the full minutes text for item 18.

19.

City Fund - Funding Strategy 15/17 Eldon Street EC2 and 6 Broad Street Place EC2 Refurbishment Projects

Report of the City Surveyor.

 ...  view the full agenda text for item 19.

Minutes:

The Board considred a report of the City Surveyor on the Funding Strategy 15/17 Eldon Street and 6 Broad Street Place Refurbishment Projects within the City Fund Estate.

 

RESOVLED- That the report be noted.

 ...  view the full minutes text for item 19.

20.

City Fund : Fleet Street Estate VP Strategy - Lease Surrender Agreement & Compensation Agreement - Barclays, 80/81 Fleet Street EC4

Report of the City Surveyor.

 ...  view the full agenda text for item 20.

Minutes:

The Board received report of the City Surveyor on the Salisbury Square (formerly Fleet Street Estate) Development Vacant Possession Surrender Agreement and Compensation Agreement, Barclays, 80/81 Fleet Street EC4 & Serving Break Notices.

 

RESOLVED- That the report noted.

 ...  view the full minutes text for item 20.

21.

Non-Public questions on matters relating to the work of the Board

Minutes:

There were was one questions received in the non-public session.

 ...  view the full minutes text for item 21.

22.

Any other business that the Chairman considers urgent and which the Board agrees should be considered whilst the public are excluded

Minutes:

There was four items of business considered in the non-public session.

 ...  view the full minutes text for item 22.