Decision details

Landlord’s Approval of Sub-letting of the Yvonne Arnaud Theatre

Decision Maker: Assistant Director: Assets and Property

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:


The Yvonne Arnaud Theatre is held by the Yvonne Arnaud Theatre Trust under a 99 year lease dated 14th July 1961. There is a sub-lease dated 12th December 2008 granted to Yvonne Arnaud Theatre Management Ltd. which is the operational company for the theatre.

Due to changes in the governance structure of the Yvonne Arnaud organisation it is proposed that the current sub-lease is terminated, and a new sub-lease is contracted between the (newly incorporated) Yvonne Arnaud Theatre Trust and Yvonne Arnaud Theatre Management Ltd.

This new sub-lease will grant a new 20 year term, it will also modernise the provisions and contract a new rent of £50,000 p.a. Under Clause 3. (32) of the Head Lease the Council’s prior written consent is required for an under-letting.

This Delegated Authority therefore grants approval for this proposed sub-letting.

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


Reasons for the decision:

This decision must be taken to provide Landlord’s consent for the grant of a new sub-lease by the Yvonne Arnaud Theatre Trust to the Yvonne Arnaud Theatre Management Ltd.in accordance with the terms of the head lease.

Alternative options considered:

None

Source of Authority to take Decision:

Council’s 13/6/2024 Constitution Part 3, Page 3-63 Para 4(e), Executive Head: Assets and Property in relation to the Council’s land and premises leased or licensed to others and in consultation with the appropriate lead councillor and relevant Joint Director:

To approve proposals for assignment, sub-letting or surrender of leases and for change of use

Publication date: 10/07/2024

Date of decision: 10/07/2024