Decision details

Renewal of Lease St James Car Park

Decision Maker: Cabinet Member Finance and Assets

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Decision:

To renew the lease-in of land at St James Street Car Park for a period of five years in accordance with the terms attached (Exempt Information by virtue of paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972).

Reasons for the decision:

To ensure efficient estate management.

To maximise the utility and efficiency of the St James Street Car Park.

To maximise best value.

Alternative options considered:

Go to third party determination on the level of rent, likely to require full disclosure of the operating income and profitability of the car park, which could prove to substantiate a higher level of rent.

In January 2025, the council renewed the lease of a car park at St George’s Place to Europarks at an equivalent rent of £950 per space. St James Street is considered a better location and far more accessible car park, reflected in the higher equivalent rent per space.

Finance Comments: In agreement, revised rent reflects RPI over the period of the current lease.

Other reasons / organisations consulted

Internal only, in agreement.

Contact: Richard King, Director of Construction, Property and Assets Email: [email protected].

Publication date: 19/12/2025

Date of decision: 19/12/2025

Effective from: 31/12/2025

Accompanying Documents: