Purpose

The Council intended to continue to operate the Ladysmith as a shopping centre and to maximise its rental income.

The Council retained the incumbent letting agents to continue letting the units, to maximise the revenue for the Centre.

Decision

That approval be granted to complete the lease renewal for Unit 14 Staveleigh Mall on the terms detailed within Appendix 1.

Reasons for the decision

The Council has recently acquired the Ladysmith Centre 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, and which received Cabinet approval on 27 March 2026.  The scheme extends to 190,394 sq ft and comprises 56 retail units, most of which are fully let on market terms.  As at the date of acquisition, by the Council, (18 May 2026) 6 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 renewal for Unit 14 Staveleigh Mall, in the Ladysmith Centre is ready to complete and formal approval to the Heads of Terms is now required.

Alternative options considered

The application for the new lease could be rejected, but that would result in void service charge and rates charges becoming attributable to the Council.