Content

To approve the reviewed rent of the above
property leased to Shabir Valis.
In accordance with clause 7. of the lease, the annual passing rent
of £16,000 has been reviewed as at 4th December 2024 and it
is proposed to increase it to a stepped annual rent as
follows:
£17,000 (4/12/2024 to 3/12/2025)
£19,000 (4/12/2025 to 3/12/2026)
£20,000 (4/12/2026 to 3/12/2027)
£21,000 (4/12/2027 to 3/12/2028)
£22,250 (4/12/2028 to 3/12/2029).
The average rent over the 5 year period until the next rent review
date is £19,850 per annum exclusive (an increase in the
average rent over the previous period, which was also agreed as a
stepped rent, from £216 per square metre to £298.30 per
square metre on the retail part of the demised premises) in line
with the Estimated Rental Value provided in the valuation
report.
A memorandum will be endorsed on the lease recording this
review.
If you have any queries, then please contact Fiona Williams who
will be happy to provide further information.

Reasons for the decision

To achieve best consideration on the review of
the rent in accordance with the terms of the lease.

Alternative options considered

The decision meets the statutory and policy
requirements for the Council and there were no alternative options
available