Purpose

To seek approval to grant a new lease for
Industrial premises at Unit 3a Hill Crest Park, Calverton, NG14 6QJ
to UK Audio Engineering Ltd.

Decision

It is recommended that the Leader:
1.Approves the granting of a new lease to UK Audio Engineering Ltd
for industrial premises at Unit 3a Hill Crest Park, Calverton, NG14
6QJ to UK Audio Engineering Ltd.
2.Approves the Heads of Terms at Appendix 2.
3.Delegates authority to the Service Manager - Property, in
consultation with the Chief Executive and Legal Services to
negotiate and approve the form of the lease and agreement for
lease.

Reasons for the decision

The new lease will secure a letting for vacant
premises.
New letting would see increased income to the Council.

Alternative options considered

An alternative would be to not agree a new
lease to the proposed tenant and to continue marketing. However,
this would mean that void and marketing costs continue to be
incurred by the Council and the premises remains vacant.