Purpose

To agree Provisions in rent

Content

Decision:
Approve a decrease in the annual rent from
£64,907 per annum to £52,231 per annum with effect from
the rent review date of 16 January 2024.
Reason(s):
The proposed rent review settlement secures the
rent at a level in line with market conditions as at the rent
review date and therefore represents best consideration. The rental
income will continue to contribute to the total annual rental
income stream for the Council.
Other options considered and rejected by the
Executive:
To refer the matter to a third-party independent
surveyor on application to the RICS Dispute Resolution service as
set out within the terms of the lease in the event the parties are
unable to reach a negotiated settlement. The application has
already been made and the appointed Arbitrator remains on standby,
pending further direction from the parties.
Details of any conflict of interest declared by
the Leader or lead councillors and any dispensation
granted:
None.