Decision details

Grant of a new Contracted-Out Lease of Unit 9 Midleton Enterprise Park to Sailor Food and Beverages Ltd.

Decision Maker: Assistant Director: Assets and Property

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:

To approve the grant of a new lease of Unit 9 at Midleton Enterprise Park to Sailor Food and Beverages Ltd. on the following terms:

Term: 5 Years
Rent: £12,000 p.a.
Rent Free: 1 month
Deposit: £7,200
Breaks: Tenant Option to break after 3 years
Reviews: None
TAW: Tenant shall occupy the property under a Tenancy at Will prior to lease completion.

If you have any queries, then please contact George Musgrave who will provide further information.

Reasons for the decision:

In order to secure a commercial letting of the property and receive the rental income.

Alternative options considered:

None

Source of Authority to take Decision:

Council’s 15/5/2024 Constitution Part 3, Page 3-62 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: 10/06/2024

Date of decision: 05/06/2024