Content

Exemption from publication: There are
confidential appendices to this report, which are exempt by virtue
of paragraph 3 of Schedule 12A of Part 1 of Schedule 12a of the
Local Government Act 1972 because they contain information relating
to the financial or business affairs of any particular person
(including the authority holding that information).

To agree a lease renewal at the subject property.

Reasons for the decision

The terms of the proposed lease are line with
the current market conditions. The additional rent will generate a
revenue to support delivery of the Council’s services and
meeting the Council’s obligations under Section 123 of the
Local Government Act 1972.

Alternative options considered

To not agree a lease renewal and to remarket
the property, however, the property is of an uncommon asset class
and there is no guarantee the Council will find a tenant for the
property. This will attribute additional costs for a loss in income
and potential reputational damage if alternative provision is not
provided.