Decision

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.

New Lease

Reasons for the decision

The property is currently vacant and has been marketed by our agent Duncan Bailey Kennedy since October 2025. The terms of this letting are in line with thecurrent market for similar commercial premises. 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

Reject the current offer and continue to market the premises for a higher rent or a stronger covenant:
Benefit - More favourable lease terms
Disbenefit - The offer received is for very close to the asking rent and is in line with the property valuation carried out by the agent – a higher offer is unlikely to be forth-coming soon and the unit remains vacant, with the Council incurring void costs: utilities, service charge and business rates