Decision details

The Council owns the freehold of the land. The area is designated as industrial land to be leased.

Decision made to enter into a lease at the above property. The Council owns the freehold of this property and has granted a new fifteen-year lease to Strata Stones Ltd. The land and property will be used for the purpose of transhipment and storage of materials.

Reason:

The Decision was taken for the following reasons:

•Opportunity to strategically manage the Council’s estate. The Council owns the freehold of the land. The area is designated as industrial land to be leased.

•The tenant has been in occupation for several years previously and has continued investing in the site by carrying out improvement works.

•An independent valuation was obtained confirming the Market Rent and the investment by the tenant including improvements to the ground and services. This letting regularises the occupation and provides the Landlord & Tenant with greater certainty of income and lease terms.

There were no alternative sites to consider.

There are no Crime & Disorder, Equality, Social Value in Contracts, HR, Legal, or ICT implications.