Purpose

To enable the granting of a new lease for Unit
3 Hazelford Way, Newstead.

Decision

To approve the granting of a new lease for
Unit 3 Hazelford Way, Newstead.

Reasons for the decision

New Lease approval.

Alternative options considered

An alternative would be not to grant a new
lease for the space. However, the income received is currently
below market levels and the new lease would bring income in line
with market levels. Additionally, not granting a new lease would
mean that terms of occupation continue to be governed by a
temporary licence agreement rather than formal Tenancy.