Content

That it be DETERMINED that:

1.      
The
Council agrees to a surrender and renewal of the existing lease.

2.      
The
Council agrees to modernise the new lease by way of amending the lease terms.

3.      
The
Council agrees to a new 125-year term with 5 yearly rent reviews.

4.      
Initial
rent to be £20,250 per annum (Twenty Thousand Two Hundred and Fifty Pounds).

Reasons for the decision

To agree a surrender and renewal of the lease of the above property to
extend the length of the lease and modernise the lease terms.