Purpose

To agree the terms of the new lease.

Content

Decision:
To grant a new 15-year lease of
the Education Centre at the Rodboro Buildings to ACM Guildford Ltd
on the terms set out in paragraph 6.5 of the report.
 
Reason(s):
The proposed new lease
represents best consideration and provides an increased rental
income for the Council.
Granting the proposed new lease
prevents the property becoming vacant with all the costs associated
with a vacant unit.
 
Other options considered and
rejected by the Executive:
The alternative is to inform
ACM Guildford Ltd that we will not enter into a new lease with them, wait for
the administrator to terminate the tenancy at will and then place
the property on the open market to find an alternative occupier.
This option comes with increased risk in terms of the time it will
take to find a suitable occupier, the costs of marketing the
property and the vacant property costs.
 
Details of any conflict of
interest declared by the Leader or lead councillors and any
dispensation granted:
None