Purpose

Plantation Industrial Estate is leased to Tameside Metropolitan Borough Council on a 125-year Head Lease dated from 16 March 1981.  The council pays a head rent of £290,000 (Two Hundred and Ninety Thousand Pounds) per annum.

Units 2a and 4, Plantation Industrial Estate, on which the Council has a long leasehold interest in and are currently vacant.  They have been actively marketed to let by the council’s retained agents RogerHannah.

An offer has been received from The Mattress Factory Ltd to take occupy both units on the terms outlined in the report.  The tenant will also be responsible for the council’s legal and surveyor’s fees.

This report seeks approval to proceed on the terms outlined.

Decision

That Units 2a & 4, Plantation industrial Estate be leased to The Mattress Factory Ltd & Christopher Carr on the terms outlined in this report. 

Reasons for the decision

To ensure the council’s estate is income producing. 

Alternative options considered

Not to lease the units – this would result in the units potentially sitting vacant for further months at cost to the council.