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To approve the reviewed rent of the above property leased to Bell
& Colvill Ltd.

In accordance with the second schedule of the lease, the annual
passing rent of £9,758pa has been reviewed as at 11/3/22 and
it is proposed to increase it to £14,650pa.

This accords with advice from our Consultant and is based on recent
upward movements in industrial rents.

A memorandum will be endorsed on the lease recording this
review.

If you have any queries, then please contact Charles Wood who will
be happy to provide further information.