1. The tenant’s previous lease has expired and they are currently holding over as their lease is contracted inside the Landlord and Tenant Act 1954. The tenant has subsequently served a section 26 notice requesting a new tenancy.
2. The centre comprises multiple retail units, some of which have been vacant for some time and it is important that occupation levels are maximized so that the holding costs incurred by the Council are mitigated.
3. The Council’s external agent for the centre Wright Silverwood has recommended the action.
4. The Terms agreed leave the Tenant responsible for payment of the rent, landlord Service Charge, business rates, insurance, utilities and internal repairs.
5. The lease renewal proposed will not prohibit the council from undertaking development at a future date if planned.