Purpose

1. The properties are owned by the council as
part of its property investment portfolio held to deliver optimum
commercial returns through rental income which is used to support
the council’s strategic objectives in line with the County
Plan 2020 – 2024.
2. The council has awarded contracts in consultation with the
procurement team and in line with the council’s procurement
rules for the provision of estates professional services including
lease renewals and the negotiation of new leases where properties
were occupied under Tenancies at Will or Licences.
3. The appointed agents were instructed to negotiate the terms of a
new lease with the existing occupier.
4. The agents have surveyed the properties, reviewed the level of
market rents achievable in this location and made justified
recommendations on the terms of the lease and the level of rent to
be negotiated
5. Provisional agreement, subject to formal approval, has been
reached with the current occupiers for a new lease.