Agenda item

Rental Income and Business Rate Update

Report of the Chamberlain.

Minutes:

The Committee received a Report of the Chamberlain concerning an update on rental income and Business Rates.

 

In response to a query concerning rental concessions, the City Surveyor confirmed that the City Corporation had entered into a number of turnover rents for twelve-month periods, and, whilst several of these had been extended recently, the majority were due to expire in the next 3 – 6 months. As the government mandated moratorium against taking enforcement action against tenants who were in arrears had expired, the City was now negotiating with a number of tenants in this position. The Surveyor added that he was uncomfortable with the overall level of arrears the City faced, and, in response to a request from the Chairman, would provide the Committee with an overview paper which detailed the schedule of arrears, once this had been considered by the Property Investment Board.

 

RESOLVED – that the Committee noted the Report.

Supporting documents: