Decision details

(a)  To consider the work being undertaken across the Cobtree Estate as set out in the progress report attached as Appendix A to the report of the Cobtree Officer; 

(b)  To consider the potential re-letting of Garden Cottage.

1.  That the progress report on work being undertaken across the Cobtree Estate, attached as Appendix A to the report of the Cobtree Officer, be noted.

2.  That the Head of Legal Services be authorised to re-let Garden Cottage on a long term tenancy at market rent (and on such other terms as may be agreed by the Cobtree Officer) at such time that the existing tenant gives notice.

The Committee has asked to be provided with a progress report on the work being carried out across the Estate at each meeting.  The report for the most recent period is attached as Appendix A to the report of the Cobtree Officer.

The tenant of Garden Cottage has expressed a wish to seek alternative sheltered accommodation and is waiting for a suitable place to become available.  It is proposed that as with 4 Stream Cottages the Cottage is re-let on a long term tenancy at the appropriate market rate.  It is important that the re-letting occurs as quickly as possible to ensure a continuity of income from the property.  Currently the rent is £5,682.88 per annum, and it is thought that when re-let the property could achieve at least £9,000 per annum.

An alternative course of action would be not to endorse the works ongoing across the Estate.  This is not considered appropriate as the works are in the best interests of the Estate and it is important that the Committee is aware of ongoing actions.

The Committee could have chosen to delay a decision on the re-letting of Garden Cottage until it becomes vacant.  This is not considered appropriate as income would be lost in the period between the Cottage becoming vacant and the next meeting of the Committee.

The Committee could have chosen to sell the property.  This is not considered appropriate as, although there would be a short term capital gain, the revenue from the tenancy would be lost.  Following the success of the Cobtree Manor Park project, ongoing revenue for operations is tight due to increased use from higher visitor numbers and additional maintenance costs in respect of the play area.  As such it would not be in the best interests of the Charity to reduce the annual income generated through letting the property.