Decision

To approve the reviewed rent of the above property leased to Larian Studios UK LTD.
In accordance with schedule 5 of the lease, the annual passing rent of £39,500 has been reviewed as at 24/06/2026 and it is proposed to increase to £46,083.33 per annum.
The rental uplift was calculated by the Consumer Price Index (CPI) as per the terms of the lease, so external consultant valuation advice was not required.
A memorandum will be endorsed on the lease recording this review.
If you have any queries, then please contact Alex Hill who will be happy to provide further information.

Reasons for the decision

The annual rent needed to be reviewed under the terms of the lease.

Alternative options considered

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