Decision

Exemption from publication: There are confidential appendices to this report, which are exempt by virtue of paragraph 3 of Schedule 12A of Part 1 of Schedule 12a of the Local Government Act 1972 because they contain information relating to the financial or business
affairs of any particular person (including the authority holding that information).

To grant a new lease on the whole of the property known as 58 High Street, Aylesbury, including surrendering the first floor lease as the existing tenant could not agree to a new lease and the new incoming tenant would avoid a council asset becoming void.

Reasons for the decision

Carter Jonas have recommended the surrender of part and new lease on the whole of the subject property, allowing the incoming tenant to occupy the whole of the property, having the obligation to put the property in good repair whilst paying a fair market rent.
The proposed letting will generate a revenue to support delivery of the Council’s services and meeting the Council’s obligations under Section 123 of the Local Government Act 1972.

Alternative options considered

To not approve the surrender and new letting leading to a void on the first floor of the property. This would result in a larger loss of income generated at the property than what is proposed with the new lease with subsequent holding costs to the Council. Additionally,
there is no guarantee that demand in the locality will improve and an occupier will be found.