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To approve the grant of the lease of Unit 35 Midleton Enterprise
Park to D R Smith & Partner in line with the following terms
and conditions:

Term: 10 Years
Rent: £19,500 p.a. + VAT (payable quarterly in advance)
Rent Free: 1 month
Breaks: Tenant Option to break in the 3rd and 6th years
Reviews: On the fifth anniversary of the term.
Deposit: £7,800 (to be held for the duration of the
term).

For grant of a new lease the rent will be £19,500 p.a with a
rent-free period of 1 month, which in accordance with the
Council’s General Disposal Consent powers, provides the
‘best consideration reasonably obtainable’ where the
proposed term exceeds seven (7) years.

The agreed term is 10 years. The rent will be payable quarterly in
advance and subject to an uplift in line with the rent review
provisions with effect from the fifth anniversary of the
term.

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