to accept a surrender of the lease for the G4S Ltd Raeburn Road property.
Reason:
•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 vacated the property 20th August 2021 as part of their estate reconfiguration. There was no break option in the lease which expires 2045, the Council can update and let the property to avoid it being left vacant.
•An independent valuation was obtained confirming the surrender value in August 2021. The tenant has provided evidence of statutory certificates.