1. The Maylord Orchards Centre is now owned outright by the council as a strategic asset in the centre of Hereford.
2. The Centre comprises multiple retail units with the council incurring the holding costs of all vacant units.
3. The terms agreed are for a lease for a 12 month period with the tenant responsible for the payment of the service charge and insurance premium attributable to this unit, business rates and all utility costs
4. The occupation of this unit will mitigate the holding costs that the council will otherwise pay.
5. The occupation of an otherwise vacant unit will help to improve the vibrancy of the Centre and should increase footfall which may benefit the other occupiers
6. The lease, for a period of 12 months, will be outside the security of tenure provisions of the Landlord and Tenant Act 1954 and so will not prohibit the council from undertaking development at a future date.