Decision details

Sell the former toilets Marina Rd Ramsgate to the current occupier following a lease surrender of the lower arches on Marina Esplanade.

De-risking the lower arches site as well as obtaining a capital receipt that would also be augmented by the return of the other arches.

Termination of lease and sale at auction. This could prove to be a costly and lengthy process if the tenant fights the decision. Upon securing vacant possession of the premises a better price could be achieved at auction. With the property being available on the open market the tenant will still be able to purchase it.

Termination of lease and retain the asset. TDC would have also retained the liability and cost associated with the premises.