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 – including this property - 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 proposed tenant will mitigate
costs in terms of standing charges, business rates, and Service
Charge contributions that the council will otherwise continue to
pay.
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 2 years with the proposed
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.