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The Council’s tenant Carraway Guildford
(Nominee A) Ltd & Carraway Guildford (Nominee B) Ltd of the
above property has requested that they be given licence to allow
the assignment of The Friary Centre.

The application that we have received from our current tenant
Carraway Guildford (Nominee A) Ltd & Carraway Guildford
(Nominee B) Ltd is to assign the lease to
The Prudential Assurance Company Limited (PACL).

Carraway Nominees are offshore companies that are wholly owned by
PACL in any event. All of these companies come under the umbrella
of M&G. It has been explained to us that the intention of
M&G is to extract the Asset from Carraway to bring it under the
direct control of PACL this being UK registered.

The Council cannot unreasonably withhold or delay consent for such
assignment.

If you have any queries, then please contact Charles Wood who will
be happy to provide further information

Reasons for the decision

In accordance with sound estate management
practice.

Alternative options considered

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