Purpose

To confirm the reviewed rent for the Council's tenant Champion Timber at Unit A Moorfield Point, Slyfield Industrial Estate.

Decision

Decision:

Approve an increase in the rent over Unit A Moorfield Point, Slyfield Industrial Estate, Guildford from £95,000 per annum to £126,560 per annum with effect from the 25 December 2025 rent review date.

Reason(s):

1. The proposed settlement represents best consideration.
2. 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 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.