Content

To approve the reviewed rent of the above
property leased to Craggy Island Limited.
In accordance with clause 12. of the lease dated 11 December 2013
between the Council and Craggy Island Limited, the annual passing
rent of £49,869 per annum has been reviewed as at 21/06/2025
and it is proposed to increase it to £56,095.84 per annum
(exclusive of any VAT).
The revised rent has been calculated by applying no more than an
amount equivalent to 4% per annum compounded annually over the
period from the last rent review on 21/06/2022 to the date of the
present rent review on 21/06/2025 to the previous rent.
A memorandum will be endorsed on the lease recording this
review.
If you have any queries, then please contact Fiona Williams who
will be happy to provide further information.

Reasons for the decision

To implement the terms of the lease in
reviewing the rent to ensure that the Council receives the best
consideration reasonably obtainable.

Alternative options considered

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