Decision details

B1 41 Moorfield Road, New contracted out Lease

Decision Maker: Joint Executive Head: Assets and Property

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes


To approve the grant of the lease of B1 41 Moorfield Road, Slyfield Industrial Estate, GU1 1RU to Javelin ID Limited in line with the following terms and conditions:

Term: 5 Years

Use: Light industrial/warehouse with trade counter

Rent: £42,106.50 p.a. (payable quarterly in advance)

Rent Free: Upon lease completion, the tenant will benefit from 1 months rent fee.

Deposit: 3 months rent plus sum equivalent to VAT

Reasons for the decision:

To grant a renewal.

Alternative options considered:

The decision meets the statutory / policy requirements for the Council and there were no alternative options available

Source of Authority to take Decision:

Council’s 21/07/2023 Constitution Part 3, Page 3-65 Para 3(a), Executive Head: Assets and Property in consultation with the appropriate lead councillor and subject to being satisfied that the Council will receive the best consideration reasonably obtainable:

Subject to consultation with the Chief Finance Officer when the annual rent or premium exceeds £199,999, to accept terms for the granting, renewing, reviewing and varying of leases of Council owned land and property held in the General Fund

Publication date: 26/09/2023

Date of decision: 26/09/2023

Effective from: 04/10/2023