Purpose

To determine a 10 year lease to Style di Vita
Ltd (interior design and furniture) at a rent of £48,246 per
annum.

Content

Decision:
That the Council enters into a ten year lease with Style di Vita Ltd at a rent of
£48,246 per annum, subject to a break option and an open
market upwards-only rent review at year five.
Reasons:
·     
The proposed letting represents best consideration.
It is the best offer received after thorough marketing and the rent
represents an increase on previous lettings in this
location.
·     
The proposed annual rent secures an increase in the
annual rental income stream for the Council.
Other options considered and
rejected by the Executive:
To
not enter into the lease.
Details of any conflict of
interest declared by the Leader or lead councillors and any
dispensation granted:
None.