Decision details

The Council owns the freehold of this property and has granted a new three year lease to Handelsbanken PLC by way of a lease renewal. The property will be used for offices in association with the tenants banking business. The building is designated as offices to be leased.

Decision made to enter into a lease at Unit 1 Grafton House. The Council owns the freehold of this property and has granted a new three year lease to Handelsbanken PLC by way of a lease renewal. The property will be used for offices in association with the tenants banking business.

Reason:

The Decision was taken for the following reasons:

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

•The tenant has been in occupation for several years previously and wishes to remain in occupation.

•Evidence has been obtained to confirm that the Market Rent has been achieved. 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.