Content

Recommendations
approved
 
Reasons for
recommendations
Following initial marketing of this vacant
unit on Market Street, Chorley by the Council’s Consultant
Retail Surveyor the proposed terms set out in Appendix A have
provisionally been agreed and reflect current market conditions
obtaining within the Centre and is in line with other leases which
have been recently agreed/completed.
 
The proposed tenant is a local businessperson
within the town centre. The proposed rent is in line with market
value and represents the highest offer received by the council for
the property. The grant of this lease will also relieve the Council
from empty rate liability and service charge losses and will fill
and refurbish a currently vacant unit.
 
Other options
considered and rejected
To continue marketing of the
unit.
 
Rejected on grounds that
proposed tenancy is suitable in terms of covenant, proposed use,
rental offer and other lease terms, considering this property has
been vacant since 2021.