Purpose

The premises are occupied by Greater Manchester Combined Authority on a 30-year lease with effect from 30 April 2010.

The lease provides for the rent to be reviewed in 3 yearly intervals in accordance with the Retail Price Index (All Items) and the review date under consideration is 30 April 2025.

Using the calculation and RPI data available, the increase to the rent has been calculated at £17,040 or £0.017m per annum.

Decision

That the Council agrees the rent review as per the terms of the lease.

Reasons for the decision

The report set out to comply with the terms of the lease to Greater Manchester Combined Authority as successor to the Greater Manchester Waste Disposal Authority via its 30-year lease commencing on 30 April 2010 which is subject to 3 yearly rent reviews. 

Alternative options considered

Not to implement the rent review and forego the increased rental due to the Council.