Decision details

Manchester City Centre Hotel (ADAIR ST) - Development Loan

Decision Maker: Sandra Stewart - Director of Governance & Pensions

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Decision:

DETERMINED that as part of the 3% allocation to Greater Manchester Property Venture Fund (GMPVF) approved by Panel on 12 September 2014, to approve (subject to further legal and technical due diligence) a development loan up to £23.5m (including rolled up interest) for a new Manchester City Centre Hotel development.

 

The costs for the due diligence will be met by the prospective borrower, subject to an agreed cap of £100,000.

Publication date: 15/10/2019

Date of decision: 14/10/2019

Accompanying Documents: