Purpose

1. The tenant’s previous lease has
expired and they have been on a temporary tenancy at will whilst
negotiations take place.
2. The tenant’s current occupation on a tenancy at will can
be made more secure for HC by putting a lease in place.
3. The centre comprises multiple retail units, some of which have
been vacant for some time and it is important that occupation
levels are maximized so that the holding costs incurred by the
Council are mitigated.
4. The Council’s external agent for the centre Wright
Silverwood has recommended the action.
5. The Terms agreed leave the Tenant responsible for payment of the
rent, landlord Service Charge, business rates, insurance, utilities
and internal repairs.
6. The lease renewal proposed will not prohibit the council from
undertaking development at a future date if planned.