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That the Council give consent
to subletting of each unit to a connected company and for the
removal of the guarantor from both leases.

Reasons for the decision

The Council owns the freehold
with a lease for each property.  The
tenant has approached officers with a proposal to change some
details in the leases; they have asked for this for their own
business reasons.
 
The current details
are:
 

·      
192 Masons Road, let from 12.07.2016 to 22.08.2138
to Trustees of the tenant company with AGD Holdings Ltd as
guarantor.
 

·      
198 Masons Road let from 23.08.2013 to 22.08.2138 to
Trustees of the tenant company with AGD Holdings Ltd as
guarantor.
 
The changes proposed to both
leases are for the inclusion of a guarantor to be removed and for a
sublet of each property to be allowed to AGD Equipment Ltd (a
connected company).
 
There have been no issues with
the tenants in terms of breaches of the leases or payment of rent
or other obligations.  SDC’s legal
costs associated with the changes are being paid by the
tenant.

Alternative options considered

•           
Agree to the sublets and removal of the guarantors
as proposed.
•           
Decline to agree this proposal.