Content

The Council’s tenant of the above
property has requested that they be given a licence to allow the
assignment of the property: Unit 26 Midleton Enterprise Park.

The present lessee Anne-Louise Limited proposes an assignment to
the proposed assignee Be Seated Hire Ltd for the remainder of the
lease term which expires 09/03/2028. The lease agreement is outside
the security of the Landlord & Tenant Act 1954. The
assignee’s company accounts have been reviewed as part of the
Council’s due diligence process and a 3 month rent deposit of
£8,025 will be payable by the assignee.

The proposed assignment provides the ‘best consideration
reasonably obtainable’ where at the time of assignment the
remaining term exceeds seven (7) years.

Reasons for the decision

The current lessee no longer has a business
requirement for the property. The proposed assignment ensures
occupation by an alternative tenant of suitable financial standing
to meet the lease obligations until the expiry of the term in March
2028.

Alternative options considered

The decision meets the statutory and policy
requirements for the Council and there were no alternative options
available.