Purpose

The current intention of the Council is to continue to lease retail units in the Ladysmith Centre to maximise its rental income.  The subject unit is currently vacant, completing the letting will increase council revenue and ensure a vacant unit is occupied.

Decision

That the Council complete the proposed lease of units 36-38, STAVELEIGH MALL, LADYSMITH SHOPPING CENTRE, ASHTON UNDER LYNE to Ashton Optical Ltd.

Reasons for the decision

The Council has recently acquired the Ladysmith Shopping Centre, as part of the Ashton Mayoral Development Zone, Ashton Town Centre Vision and Spatial Framework, which will deliver growth and implement the objectives of the Tameside Inclusive Growth Strategy 2021-26.  The scheme extends to 190,394 sq ft and comprises 56 retail units, most of which are let on open market terms.  At the date of acquisition by the Council, (the 18 May 2026) 5 of the units were subject to lease renewals or new lettings, or lease assignments for which formal Council Governance is required to progress.

The proposed lease is for unit 36-38 Staveleigh Mall, Ladysmith Centre, one of the above units, which is currently vacant and now ready to complete, approval is requested to progress with the letting based upon the Heads of Terms detailed in Appendix 2, so that the lease can be completed as soon as possible. 

Alternative options considered

We could reject the application for the new lease, but that would result in void service charge and rates charges attributable to the Council at a considerable cost.