Content

Decision:
The Executive approved the grant of a new 5-year
lease at less than best consideration to Yvonne Arnaud Management
Limited at Old Town Mill.
Reason(s):
To support Yvonne Arnaud Management
Limited.
Other options considered and rejected by the
Executive:

1.      
Terminate the Tenancy at Will with immediate effect.
This option did not give YAM Ltd. sufficient time to vacate the
property and find suitable alternative accommodation to relocate
the facility. The Council would acquire a financial liability
because the loss of rent would impact the revenue budget and the
works required to prepare the building for reletting would impact
the capital budget.

2.      
Propose a lease to YAM Ltd.at the full market rent
of £65,000 per annum. This option exceeded their maximum
affordability and restricted their ability to operate the building.
As above, the tenant would have to vacate the property and the
Council would acquire a financial liability.
Details of any conflict of interest declared by
the Leader or lead councillors and any dispensation
granted:
None.