Decision

To complete a new business tenancy lease for 13 The Arcade, Bognor Regis and instruct legal services to prepare and execute such.

Reasons for the decision

Tenant is currently in situ, with a right to a new lease. A significant increase in rent has been agreed for a term of 15 years. The current rent is £16,000 we have agreed a staggered rent of….
1. Year 1 - £17,000
2. Year 2 - £17,500
3. Year 3 - £18,000
4. Year 4 - £18,500
5. Year 5 – Rent Review