Decision details
Loan to Aspire (MRH) Ltd
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To consider a loan to Aspire (MRH) Ltd to purchase 10 student accommodation units in Cambridge
Decision:
RESOLVED to approve:
1) the acquisition of the 10 student accommodation apartments at Purbeck House in Cambridge;
2) the loan of up to £2.1m to Aspire (MRH) Ltd for a period of 10 years, at an interest only rate of 5.5%;
3) a request that Council endorses the purchase and loan and authorises the necessary borrowing.
Publication date: 30/09/2019
Date of decision: 26/09/2019
Decided at meeting: 26/09/2019 - Cabinet
Effective from: 08/10/2019
Accompanying Documents:
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