The Maylord Orchards Centre is now owned outright by the council as a strategic asset in the centre of Hereford.
The Centre comprises multiple retail units with the council incurring the holding costs of all vacant units.
The terms agreed are for a lease for a 12 month period with the lessee responsible for the payment of the service charge and insurance premium attributable to this unit, business rates and all utility costs
The occupation of this unit under a lease will mitigate the holding costs that the council will otherwise pay.
The occupation of an otherwise vacant unit will help to improve the vibrancy of the Centre and should increase footfall which may benefit the other occupiers
The lease of this unit will not prohibit that council from undertaking
development at a future date