1. The property is owned by the council as part of its property investment portfolio held to deliver optimum commercial returns through rental income which is used to support the council’s strategic objectives in line with the County Plan 2020 – 2024.
2. In 2021 the council appointed Messrs JNA Property Ltd, Chartered Surveyors (JNA) under a contract for the provision of estates professional services including the negotiation of new leases where properties were occupied under Tenancies at Will or Licences.
3. The contract was awarded in consultation with the procurement team and in line with the council’s procurement rules and accordingly JNA were instructed to negotiate the terms of a new lease with the existing occupier.
4. JNA have surveyed the properties, reviewed the level of market rents achievable in this location and made justified recommendations on the terms of the lease and the level of rent to be negotiated
5. Provisional agreement, subject to formal approval, has been reached with the current occupier for a new lease with the tenant responsible for all repairs and for a proportion of the costs of maintaining and providing services to the common parts of the industrial estate.