Purpose

Summary

The previous lease of the Montrose Park
Café Hub was forfeited in May 2023 and the property was
vacant for several months before forfeiture took place, and since
then.  
 
The property has since been extensively
marketed and the Council wishes to proceed to grant a new lease to
ColinDeli Ltd for a term of 14 years on full repairing terms at a
rent of £35,000 per annum subject to review in line with CPI
every 5 years and on the penultimate day of the lease.  It is proposed that the tenant be granted 3
months' rent free and that there is a mutual break option two and
half years into the lease and thereafter every 5 years.

 

 
Other terms as the Heads of Terms in Appendix
A.  
 
Due to the aggregated rental income throughout
the lease term, this decision requires the approval of a Cabinet
Member under delegated powers which are sought to enable completion
of the new lease.
 

Decisions

1.   
LB Barnet agrees to grant a lease of the Montrose Hub Cafe to
ColinDeli Ltd for a term of 14 years at £35,000 per
annum.

2.   
The Head of Property and Portfolio Management is authorised to
complete the lease on the terms outlined in this report and
appendices with minor variations.