Issue details
Proposed Lease of Exchange Place Studios
Yorkshire Artspace Society Ltd is one of the largest and most established providers of artists studios in the UK currently offering affordable workspace to over 150 artists and craftspeople in three buildings in Sheffield. One of these buildings, Exchange Place Studios at Castlegate, is leased on a temporary basis from the Council and this report seeks authority to grant a permanent lease of that building in order to secure investment from the Arts Council for major refurbishment.
This investment will add to the vibrancy, cultural attraction and reinvigoration of the Castlegate area and wider City Centre and has economic benefits in terms of making the city an exciting place to locate and attract talented staff for businesses in the creative and digital industries. It also has social benefits as Yorkshire Artspace are committed to offering public access to artists and their work and have a very proactive programme of community engagement specifically targeted at disadvantaged neighbourhoods and multicultural communities, together with training and support for young people including apprenticeships.
In order to secure the Arts Council funding the Council is being asked to support the project by granting the lease at less than the full open market value. In order to protect the Council’s future interests it is proposed to include an option for the Council to re-purchase the property in 40 years time at the original price.
Decision type: Non-key
Decision status: Recommendations Approved
Notice of proposed decision first published: 18/11/2016
Scrutiny Committee: Economic and Environmental Wellbeing Scrutiny Committee;
Decision due: 30 Nov 2016 by Co-operative Executive
Lead director: Executive Director, Place
Department: Place
Contact: Neil Jones Email: neil.jones@sheffield.gov.uk Tel: 27 35549.
Date agenda documents available: 22/11/16
Decisions
- 02/12/2016 - Proposed Lease of Exchange Place Studios
Agenda items
- 30/11/2016 - Co-operative Executive Proposed Lease of Exchange Place Studios 30/11/2016
Documents
- Report of the Executive Director, Place