Purpose

To agree an increase in the annual rent from
£37,000pa to £50,000pa from the rent review date of
12/11/24.

Content

Decision:
That in relation to the lease dated 31/12/79 over 2 North Moors,
Slyfield Industrial Estate, Guildford to approve an increase in the
rent from £37,000 per annum to £50,000 per annum with
effect from the 12 November 2024 rent review.
Reason(s):
The proposed settlement represents best
consideration.
The proposed annual rent secures an excellent increase in the
annual rental income stream for the Council.
Other options considered and rejected by the
Executive:
If
the parties are unable to reach a negotiated settlement, the lease
allows for the matter to be referred to a third-party independent
surveyor on application to the RICS (Royal Institution of Chartered
Surveyors) dispute resolution service. Such a course of action
exposes the Council to significant costs and a risk that the
process results in a lower rent.
Details of any conflict of interest declared by the Leader or
lead councillors and any dispensation granted:
None.