Decision details

sublet of 11 Woodbridge Meadows[part] Lease to David Peter Austin Williams Mark Courtney Williams (as trustees of the Williams Property Trust)

Decision Maker: Joint Assistant Director: Assets and Property

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:


The Council’s tenant David Peter Austin Williams Mark Courtney Williams (as trustees of the Williams Property Trust) of the above property has requested that they be given licence to allow the sub-letting of 11 Woodbridge Meadows (part).

Please note the existing lessee is DW Elson, DPA Williams and MC Williams. There is a separate application (refer separate DA) to assign to the above named. The two transactions are intended to be contemporaneous so that the sublet will take place at the same time/immediately after the assignment has completed.

The proposal is to sublet part of the property (described by lessee as unit 1 with floor area of 4,030 sq ft) to Enzo Inc Ltd. A new start up so there is to be a £30,000 security deposit lodged. The sublet will be on the following terms: -
Lease: 10 years with tenants 5th year break outside the Act. FRI terms.
Rent: Year 1 and 2 - £60,000pa/Year 3 - £62,000/Year 4 £67,000/Year 5 £70,000.

The Council cannot unreasonably withhold or delay consent for such sub-letting.

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


Reasons for the decision:

In accordance with sound estate management practice.

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:


Scheme of Delegation to Officers August 2024
Assistant Director – Assets and Property
Para. 3.8.5
In relation to premises leased or licensed to others:
e) to approve proposals for assignment, sub-letting or surrender of leases and for change of use;
In consultation with the Portfolio Holder and the Joint Service Director/ Relevant Assistant Director

Publication date: 21/10/2024

Date of decision: 21/10/2024