1. The tenant’s existing lease has expired and a tenancy at will is required to regularize their tenancy.
2. The tenant is negotiating terms with the Council’s retail agent to remain in occupation.
3. The Shopping 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.
4. The Council’s external agent for the centre Wright Silverwood has recommended the action.
5. The Terms agreed leave the Tenant responsible for payment of rent, landlord Service Charge, business rates, insurance, utilities and internal repairs.