Labour cabinet members approved the restructure of the lease for the Holiday Inn site between West Quay Road and Herbert Walker Avenue, which rebranded as voco last year. Southampton City Council, as the freeholder, will receive increased rent as well as a “significant” one-off upfront payment in the current financial year. Speaking at the cabinet meeting on Tuesday, January 27, Cllr Sarah Bogle, cabinet member for economic development, growth and skills, said: “This is really a great vote of confidence in the city. “Significant investment by the Holiday Inn, who’ve rebranded it voco. The one-off payment, in the form of a lease premium, will be used to fund the council’s capital programme.