Decision details

The Council owns the freehold of this property and has granted a tenancy at Will for the purpose of light industrial and storage or such other use or combination of uses falling within Classes B1 and B8.

An independent valuation was obtained confirming the rental value was Market Value in February 2019, the rent agreed is lower, in part due to Covid-19 pandemic but primarily due to the investment by the tenant including improvements to the office and facilities within.

Decision made to enter into a lease at the above property with Supersips Ltd. The Council owns the freehold of this property and has granted a tenancy at Will for the purpose of light industrial and storage or such other use or combination of uses falling within Classes B1 and B8.

Reasons:

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.

•The tenant currently occupies another part of the industrial estate and is investing in the site by taking on the vacant unit.

•An independent valuation was obtained confirming the rental value was Market Value in February 2019, the rent agreed is lower, in part due to Covid-19 pandemic but primarily due to the investment by the tenant including improvements to the office and facilities within.

There were no alternative sites to consider.

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