Decision

That the lease for 1A & 1B Fleet Walk Shopping Centre, Torquay be assigned to Clokken Limited.

Reasons for the decision

The assignee will be guaranteed by Kentucky Fried Chicken (Great Britain) Limited who have good financial status hence the covenant strength of the Assignee going forward is strong and we would expect them to meet their financial obligations concerning the assigned lease.

Alternative options considered

The Council would likely be unsuccessful opposing the assignment and the matter would invariably require litigation. Given the financial status of the Guarantor, opposing the assignment was dismissed as a suitable alternative option.