Content

To approve the renewal of the lease of Guildford Auction Rooms to
Wellers Auctions Ltd as soon as possible in line with the following
terms and conditions:

For the grant of a new lease the rent will be £23,500 per
annum compared with the rent under the previous lease of
£15,000 per annum, which in accordance with the
Council’s General Disposal Consent powers, provides the
‘best consideration reasonably obtainable’ where the
proposed term exceeds seven (7) years.

The fire insurance premium is chargeable to the tenant.

The agreed term is 8 years with a mutual rolling option to break
after 3 years.

The rent will be payable quarterly in advance and subject to an
uplift with reference to the Retail Prices Index with effect from
the 5th year of the term.

The lease will be granted on similar terms to the existing lease
with minor modifications. The tenant is to be responsible for
keeping the premises wind and watertight, and internal
decoration.

If you have any queries, then please contact Fiona Williams who
will be happy to provide further information.