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. In 2022 the council appointed Messrs Bruton Knowles LLP,
Chartered Surveyors (BK) under a contract for the marketing of
vacant units across the industrial portfolio and the associated
negotiation of new leases with potential new Tenants.
3. Accordingly BK were instructed to market units 4 & 5 Three
Elms Trading Estate and to negotiate the terms of a new
lease.
4. BK have inspected the properties, and 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 proposed Tenant for a new lease.