1. New River Retail is the Council’s tenant in Unit 44-47 Maylord Orchards. New River Retail sub-let the unit to Poundland. The underlease has expired.
2. New River Retail have agreed a lease renewal with Poundland on re-negotiated terms.
3. New River Retail have requested a license to underlet to complete the lease with Poundland.
4. 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.
5. The terms agreed leave the tenant responsible for payment of the service charge, insurance, business rates and utilities in line with the Maylord Orchards Management Plan (January 2024).