Decision

To authorise the settlement of a rent review
and terms for the grant of a new lease in line with the market
valuations.

Reasons for the decision

Contractual Rent Review and Lease Renewal
under the provisions of the lease. Completion of the rent review
and grant of new lease will result in an increase in rental income
for the Council and is reflective of market rents.

Alternative options considered

Not implementing the rent review or lease
renewal would allow the tenant to occupy on terms less than market
rent and would result in a lower rental income for the Council and
was therefore rejected.