Herefordshire Council owns the freehold of the former Record Store, Harold Street and the Franklin Barnes Building, Blueschool Street, Hereford. Both properties are presently vacant and there is no current requirement for their use by the council

Further to negotiations with Wye Valley NHS Trust (WVT) terms have been provisionally agreed for a lease of five years in respect of the store and ground floor offices at the former Record Store, at a rent of £40,000 per annum, and a lease of two years in respect of the vacant Franklin Barnes building at a rent of £79,000 per annum.

This report seeks approval to lease both premises to the WVT on the provisionally agreed terms.

The proposed leases will provide an income stream for the Council and address the cost liability of holding the properties which are presently vacant.