Purpose

GSK (formerly Glaxo Properties Ltd) hold a 125
year ground lease from the Council for their premises in Park Road,
Ware. A strip of amenity land at the site entrance was omitted from
this lease. The land has been used by the company to site their
signboard on and forms part of the access into their property. It
has been maintained by the company to a good standard as grassed
amenity land. Terms have been agreed to regularise this situation
and grant a new lease for 95 years terminating on 23 November 2120
co-terminus with the existing lease of the remainder of the site.
GSK will pay a premium of £5,000 to the Council and a
peppercorn rent. GSK will be responsible for all maintenance and
repair of the land and any other outgoings. The Council will have
no financial or maintenance responsibilities. All other terms will
be in line with the existing lease.

Decision

To grant a new 95 year lease to GSK on terms
agreed and outlined above for a premium payment to the Council of
£5,000.

Alternative options considered

Option 1 - The Council could retain the land
and ask GSK to remove the signboard. However the land has no
commercial or operational value to the Council and naturally forms
visual amenity land at the entrance to this site. If the Council
were to recover the land it would incur the costs of future
maintenance.