Decision details

There was an opportunity to strategically manage the Council’s estate. The Council owns the freehold of the land and the area is designated as industrial land.

The tenant D&M Logistics Solutions Limited currently occupies another part of the industrial estate and downsizing into the vacant unit, known as Unit 2 and garage.

An independent valuation was obtained confirming the rental value for Unit 2 was Market Value in February 2019. The condition of the garage and the cost of the business rates is equivalent to the Market Rent being paid.

There were no alternative sites to consider.

Decision made to enter into a lease at the above property to D&M Logistics Solutions Limited. The Council owns the freehold of this property and has granted a ten-year lease for the purpose of light industrial and storage or such other use or combination of uses falling within Classes B1 and B8.

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.

•The tenant D&M Logistics Solutions Limited currently occupies another part of the industrial estate and downsizing into the vacant unit, known as Unit 2 and garage.

•An independent valuation was obtained confirming the rental value for Unit 2 was Market Value in February 2019. The condition of the garage and the cost of the business rates is equivalent to the Market Rent being paid.