Decision

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).

Approval of proposed terms.

Reasons for the decision

The terms of the lease renewal align with market standards. The proposed lease renewal will generate revenue to support the delivery of the Council’s services and meet the Council’s obligations under Section 123 of the Local Government Act 1972.

Alternative options considered

Not to proceed with the lease renewal and become responsible for associated void costs. The unit next door, unit 28, is also empty and there is no current commercial interest in that unit.