Issue details

Agreement of rent reviews in respect of various properties held within the council’s commercial property portfolio

1. The properties are 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 rent reviews.
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.
4. JNA have surveyed the properties, reviewed the level of market rents achievable in this location and made justified recommendations on the appropriate level of rent to be agreed.
5. Provisional agreement, subject to formal approval, has been reached with the tenants.

Decision type: Non-key

Decision status: Recommendations Approved

Notice of proposed decision first published: 04/08/2022

Decision due: 4 August 2022 by Acting Head of Property

Contact: Sarah Jowett, Strategic Assets Delivery Director Email: Tel: 01432 383302.