Purpose

1. The Maylord Orchards Centre is owned
outright by the council as a strategic asset in the centre of
Hereford.
2. The Shopping Centre comprises multiple retail units some of
which have been vacant for some time and it is important that
occupation levels are maximised so that the holding costs incurred
by the Council are mitigated and the vitality of the centre
improves.
3. The granting of a new lease to the existing tenant will mitigate
costs in terms of standing charges that the council will otherwise
pay if vacated, and will ensure a revenue income stream is
maintained.
4. The terms for the letting have been negotiated and recommended
by the council’s letting agent Wright Silverwood.
5. The terms agreed are for a lease of 5 years with the tenant to
be responsible for payment of Landlord Service Charge, business
rates, utilities and internal repairs.
6. The tenancy proposed at the Shopping Centre will not prohibit
the council from undertaking development at a future date.