The Maylord Orchard Shopping Centre is now owned outright by the council as a strategic asset in the centre of Hereford.
The Shopping Centre comprises multiple retail units some of which a number have been vacant for some time and it is important that occupation levels are increased so that the holding costs incurred by the Council are mitigated.
The letting will mitigate costs in terms of business rates and standing charges that the council will otherwise pay
The proposed tenant is an established company and the council’s managing agent Montagu Evans has recommended the letting.
The terms agreed are for a short term let for a period of nine weeks between November 2021 and January 2022 for retail purposes with the tenant to be responsible for payment of rent based on turn-over, business rates, utilities and internal repairs.
The tenancies at the Shopping Centre will not prohibit that council from undertaking development at a future date.