Decision details

Loan to Aspire (MRH) Ltd

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes


To consider a loan to Aspire (MRH) Ltd to purchase 10 student accommodation units in Cambridge


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: