Purpose

To authorise slight amendments to lease terms
previously agreed by Asset Management Panel.

Content

That it be DETERMINED that:

The agreed terms be amended for the grant of a new
lease to Bestalinks Limited of Unit 7,
Plantation Industrial Estate, Whitelands Road, Ashton-under-Lyne and to approve
the grant of a new 10 year lease on the terms detailed in the
exempt report, with a tenant’s option to renew for a further
10 years outside the security provisions of the Landlord and Tenant
Act 1954 (as opposed to the grant of a new 20 year lease, with a
tenant’s option to break at year 10 as previously approved at
Asset Management Panel, 29 March 2023)

It is proposed that the Council grants a
10-year Contracted Out Lease subject to 5 yearly rent reviews at
the following rent:

Year 1 – £65,000p.a. Subject
to 9 months rent free and 3 months at
50% rental

Year 2 –
£65,000p.a.

Year 3 –
£70,000p.a.

Year 4 –
£75,000p.a.

Year 5 –
£80,000p.a.
Bestalinks will be responsible for the payment of Business
Rates in respect of the whole unit which
is currently £34,048p.a. together with responsibly for
insurance and maintenance costs for the unit.