A fast-approaching three year deadline could put the council in a sticky situation
The Hythe, a Wirral Waters office block, was completed at the end of 2021 and secured its first tenant in 2022. It was the first Grade A office building to be developed on the Wirral for over a decade and overlooks the Birkenhead docks.
The Hythe report is being considered by councillors on July 16 at an economy and regeneration committee meeting due to the “strong possibility that it will still be valued at a figure below the trigger value of £4.985m.” The council also said Peel has not yet taken a position on whether it will trigger its option to make the council buy the leasehold in December.
The council could look to either sell the property or continue to operate it over that time but running costs are currently unknown to the council and running it could incur further losses to council budgets. If the council decided to sell it, it would get money from the sale but the cost of the borrowing to buy the building in the first place would still remain. Therefore the council is already looking at identifying potential occupants for any ground floor occupier.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
City Council report says it is 'prudent' to consider 10% council tax riseNottingham City Council says no discussions have been had yet but that a 10% tax rise would bring in over £14 million
Read more »
Empty Grade II listed pub in Islip to be five bedroom houseThe council planning committee hears objections to plans but also support from the parish council.
Read more »
South Lanarkshire Council launch a new strategy to support veteransCouncil officers have developed the South Lanarkshire Council Armed Forces Community Covenant Strategy for 2024 to 2027 which is aligned to the Council Connect Plan.
Read more »
Bristol City Council under fire for art collection worth £134mFigures show the council owns 380,000 works of art, but 90% of it is hidden away.
Read more »
Reserves warchest worth £73m at council in WalesAt the end of March, Powys County Council had £73.160 million sitting in various “reserve budgets” with £10.037 million in its “general reserve.”
Read more »
The council estate that created one of the most powerful women in the countryThe M.E.N. visited Stockport's Bridgehall estate as Angela Rayner's extraordinary journey to high office was completed
Read more »