1. The tenant has negotiated a deal to renew their lease of Unit 5 Maylord Orchards Centre on a long term lease.
2. The deal is a long term deal over 5 years, with a break at year 3 and proposes a good rental income.
3. The Centre comprises multiple 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 the rent, landlord Service Charge, business rates, insurance, utilities and internal repairs.