Purpose

The
purpose of the report is to authorise the granting of a rent review
for Retford Enterprise Centre pursuant to all tenants being granted
new leases in 2024. The proposed new rents have been calculated by
the Councils Estates Team based on the square footage of the
offices based on current market values for office/industrial space
along with the Centre's inclusive costs as set out in the
lease.

Decision

To increase the
review as per the document at Appendix 1 to this report, such
increases will come into force from 1 January 2025 for existing
tenants and with immediate effect for all new tenants.