Decision Maker: Joint Executive Head: Assets and Property
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
To approve the reviewed rent of the above
property leased to South Eastern Power Networks plc (UKPN).
In accordance with the provisions of clause 5 of the lease dated 25 March 2014, the passing rent of £392pa has been reviewed, and it is proposed to increase it to £520pa with effect from 1st January 2024.
The rent is to be increased at 5 yearly intervals with reference to the Retail Price Index (RPI). The RPI calculation is to be carried out at the end of the year 2023 to establish the amount of rent payable with effect from the 1st January 2024.
A memorandum will be endorsed on the lease recording this review.
To achieve an increase in the rent in
accordance with the rent review provisions of the lease.
The decision meets the statutory / policy
requirements for the Council and there were no alternative options
Council’s 21/7/2023 Constitution Part 3,
Page 3-65 Para 4(a).
Publication date: 31/01/2024
Date of decision: 30/01/2024