• The Maylord Orchards Centre is owned outright by the council as a strategic asset in the centre of Hereford and comprises multiple retail units some of which have been vacant for some time; it is important that occupation levels are maximised so that the holding costs incurred by the Council are mitigated and the vitality of the centre improves.
• The granting of a new lease to the existing tenant will mitigate costs in terms of standing charges and business rates that the council would otherwise carry if the Tenant left the scheme.
• The terms for the letting have been negotiated and recommended by the council’s letting agent Wright Silverwood.
• The terms agreed include the tenant being responsible for payment of Landlord Service Charge, business rates, utilities and internal repairs.
• Mutual break provisions are included throughout the lease.