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This notice relates to a proposed arrangement between the Cardiff Council (“Council”) and Academy Music Group (“AMG”) in respect of St David’s Hall (“Venue”) in Cardiff city centre.
The proposed arrangement will involve the grant of a 45 year lease of the Venue at a peppercorn rent to AMG. Under the lease AMG will be obliged to repair and maintain the Venue, ensure its long-term future and that it remains open for the benefit of the people and City of Cardiff. The Council may also receive a share of Venue profits over the lifetime of the lease. AMG, as tenant will operate the Venue as an independent commercial enterprise in accordance with the lease requirements. The lease will have positive obligations imposed on AMG to deliver a range of services in operating the Venue including continuing the classical programme as described in more detail below.
Continued below in II.2.4) Short description.
| Supplier | Identifier | Award Value | Lots Won | Cross-References |
|---|---|---|---|---|
| Academy Music Group Limited | 03463738 | - | 1 lot Lot 1 | - |
This procurement was divided into 1 lots, each awarded separately.
| Lot | Value | Awarded To | Status |
|---|---|---|---|
| Lot 1 | £45,000,000 initial term | Academy Music Group Limited | complete |